Wednesday, April 24, 2024

Cabinet approves Rs 38,000-cr subsidy for non-urea fertilisers this kharif

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The Cabinet has given its approval for a subsidy of Rs 38,000 crore for non-urea fertilizers during the upcoming Kharif season. This decision aims to support farmers and ensure the availability of affordable fertilizers for agricultural purposes.

The subsidy allocation will specifically benefit non-urea fertilizers such as Diammonium Phosphate (DAP), Muriate of Potash (MOP), and Nitrogen-Phosphorus-Potassium (NPK) fertilizers. These fertilizers play a crucial role in enhancing soil fertility and promoting crop growth.

The subsidy will help reduce the cost burden on farmers and make non-urea fertilizers more accessible and affordable. This initiative is expected to contribute to higher agricultural productivity and support the government’s goal of doubling farmers’ income.

The subsidy amount of Rs 38,000 crore demonstrates the government’s commitment to the agriculture sector and its recognition of the importance of balanced fertilization practices for sustainable farming. By providing financial assistance, the government aims to encourage farmers to adopt optimal fertilizer usage and achieve better crop yields.

It is worth noting that non-urea fertilizers typically have higher production costs compared to urea, which necessitates a subsidy to maintain their affordability. The subsidy will be disbursed to fertilizer manufacturers and importers, who will then pass on the benefit to farmers through reduced fertilizer prices.

This decision aligns with the government’s efforts to promote agricultural growth, increase farmers’ income, and ensure food security in the country. It also reflects the government’s focus on sustainable and efficient use of fertilizers, which contributes to environmental preservation and resource conservation.

In conclusion, the Cabinet’s approval of a Rs 38,000-crore subsidy for non-urea fertilizers in the upcoming Kharif season is a significant step to support farmers and promote agricultural productivity. The subsidy will make non-urea fertilizers more affordable for farmers, thereby facilitating balanced fertilization practices and higher crop yields. This initiative underscores the government’s commitment to the agriculture sector and its aim to ensure food security and the well-being of farmers.

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