India approves $8 billion subsidy for phosphate-based fertilizers – Times of India

NEW DELHI: India will present a subsidy of Rs 60,940 crore ($7.96 billion) for phosphatic and potash-based fertilisers over the approaching months to insulate farmers from larger international costs, info and broadcasting minister Anurag Singh Thakur mentioned.
The subsidy will cowl the interval to September 2022. India supplied a subsidy of Rs 57,150 crore for the earlier 12 month interval ending March 31, the minister mentioned.
A subsidy of Rs 2,501 for every 50 kg bag of the crop nutrient diammonium phosphate will retain the value at Rs 1,350 in native markets, the minister mentioned, detailing the choice taken by the cupboard.
The choice to lift the fertilisers subsidy was taken after a spike within the costs of crop vitamins in international markets, primarily resulting from provide chain disruption after Russia’s invasion of Ukraine, elevated freight and rising power prices.

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