The subsidy for the upcoming rabi season will be applicable from October 1, 2023, till March 31, 2024, information and broadcasting minister Anurag Thakur said at a press meeting on Wednesday.
For nitrogen-based fertiliser, the subsidy will be ₹47.2 per kg, for phosphorus it will be ₹20.82 per kg, for potash ₹2.38 per kg and for sulphur ity will be ₹1.89 per kg, he said.
These rates are, however, below those during the kharif season. For instance, the nitrogen subsidy announced in May for this year’s kharif season was ₹76 per kg, while that for phosphorus was ₹41 per kg.
This is due to “rationalisation of subsidy on P&K fertilisers in view of recent trends in the international prices of fertilisers and inputs,” said a government statement.
“Farmers will continue to get fertiliser at last year’s rates,” said Thakur.The Centre was to spend ₹44,000 crore in 2023-24 on nutrient-based fertiliser subsidy, according to the budget for this financial year. However, within the first five months of the fiscal, it spent ₹34,111 crore or 78% of the budget estimate. The total nutrient-based fertiliser subsidy this fiscal could touch ₹56,414 crore, 28% more than the budgeted amount, according to people aware of the matter.
Jamrani dam project
The cabinet also approved the inclusion of Jamrani Dam Multipurpose Project of Uttarakhand under the Pradhan Mantri Krishi Sinchayee Yojana-Accelerated Irrigation Benefit Programme.
The project, which will be completed by March 2028 at a cost of Rs 2,584 crore, will see a dam being built on the Gola river near Jamrani village in Nainital district. The Centre will bear 90% of the project cost, said Thakur.
