Economy

Nutrient-based subsidy rate for sulphur hiked by 31 per cent

Our Bureau New Delhi | Updated on July 31, 2019 Published on July 31, 2019

The Union Cabinet on Wednesday increased the nutrient based subsidy (NBS) rate for sulphur by 31 per cent to ₹3.562 per kg from ₹2.722 in 2018-19 while keeping that for nitrogen, phosphorus and potassium unchanged.

The NBS subsidy for nitrogen, phosphorus and potassium would remain at ₹18.901, ₹15.216 and ₹11.124 per kg, respectively, an official statement said here.

The subsidy on phosphatic and potassic fertilisers during the current financial year would cost ₹22,875.5 crore to the exchequer, the statement said.

The announcement will help manufacturers and importers formalise supply contracts for fertilisers and fertiliser inputs and make them available to farmers during the current year, it added.

Published on July 31, 2019
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