The central government has made a significant announcement for farmers this Friday. They’ve approved a subsidy of Rs 37,216 crore for phosphate and potash-based fertilizers for the Kharif season. This move is set to lower fertilizer prices and guarantee their availability. The decision was made during a cabinet meeting led by PM Modi. This initiative not only aims to make fertilizers more affordable but also marks a key step towards ensuring their accessibility. The government has raised the final budget for the fertilizer department to Rs 1,91,836.29 crore.
It’s worth noting that all major subsidized fertilizers are tracked through the Integrated Fertilizer Monitoring System (iFMS). To help farmers access DAP at reasonable prices, the government has introduced special packages alongside the NBS subsidy rates as needed. The final allocation has increased from the initial budget of Rs 1,68,130.81 crore for 2024-25 to Rs 1,91,836.29 crore through supplementary demands approved by Parliament.
Farmers are likely to be pleased with this news
Union Minister of State for Chemicals and Fertilizers, Mrs. Anupriya Patel, shared this information in a written response to a question in the Lok Sabha. She mentioned that this will help stabilize DAP and other fertilizer prices during the Kharif season, providing relief to farmers in terms of crop production costs. As a result, fluctuations in international fertilizer prices will no longer impact farmers.
In summary, to ensure that farmers can access DAP at affordable rates, the government has rolled out special packages in addition to the NBS subsidy rates as needed. Furthermore, the Department of Fertilizers is actively engaging with resource-rich countries to secure a steady supply of fertilizers, raw materials, and products.