Union Cabinet approves nutrient based subsidy rates for Kharif Season 2024

Category : Business and economics Published on: March 05 2024

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The Union Cabinet has approved the fixation of Nutrient Based Subsidy (NBS) rates for the Kharif Season of 2024, focusing on Phosphatic and Potassic (P&K) fertilizers.
Additionally, the Cabinet has sanctioned the inclusion of three new fertilizer grades under the NBS scheme to enhance soil health and offer farmers more choices.
With an estimated budget requirement of Rs. 24,420 crore for the Kharif season of 2024, the decision emphasizes the government's commitment to ensuring affordable fertilizer availability to farmers.
The government's strategy aims to empower farmers by providing them with subsidized P&K fertilizers tailored to their soil requirements, thereby optimizing agricultural productivity sustainably.