The Cabinet today accorded approval for the proposals of the Department of Fertilizers for fixation of rates of Nutrient Based Subsidy (NBS) for the year 2012-13, w.e.f 1st April 2012.
- It has approved per Kg NBS rates of fertilizer nutrients namely Nitrogen (N), Phosphate (P), Potash (K) and Sulphur (S)for the financial year 2012-13 at Rs. 24, Rs. 21.804, Rs. 24 and Rs. 1.677 respectively.
- Accordingly, the subsidy on Di-Ammonium Phosphate (DAP) and Muriate of Potash (MOP) would be Rs. 14350 PMT and Rs. 14440 PMT, respectively.
- The per Metric Tonne subsidy on other P&K fertilizes covered under the Nutrient Based Subsidy Policy shall be as per the nutrient content in that grade.
At the announced rate, total subsidy outgo for the P&K fertilizers for the financial year 2012-13 would be reduced by more than 20%.
Background
- The Department of Fertilizers is implementing Nutrient Based Subsidy Policy for the P&K fertilizers w.e.f. 1.4.2010. As per NBS Policy, the Government of India announce NBS rates for various nutrients for P&K fertilizers covered under the policy before the start of financial year.
- This is to make P&K fertilizers available at a price lower than its delivered cost.
- It has been decided to fix the subsidy on the nutrients ‘N’- Nitrogen, ‘P’ - Phosphorus, ‘K’ - Potash and ‘S’ – Sulphur contents for the year 2010-11.In addition to the fixed subsidy on above mentioned nutrients, there will be an additional per tonnesubsidy for subsidized fertilizer carrying other secondary nutrients and micro nutrients in formulations approved under FCO 1985.
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