Amid a pointy improve in world costs of fertilisers, Finance Minister Nirmala Sitharaman on Saturday mentioned the federal government will present an extra fertiliser subsidy of Rs 1.10 lakh crore to additional cushion farmers from the value rise.
With this, the federal government’s whole fertiliser subsidy is more likely to contact a file Rs 2.15 lakh crore within the present 2022-23 fiscal.
“Regardless of rising fertiliser costs globally, we’ve got protected our farmers from such worth hikes. Along with the fertiliser subsidy of Rs 1.05 lakh crore within the price range, an extra quantity of Rs 1.10 lakh crore is being offered to additional cushion our farmers,” Sitharaman tweeted.
The fertiliser subsidy invoice was estimated at Rs 1.05 lakh crore within the 2022-23 Finances. It stood at Rs 1,62,132 crore in 2021-22.
Chemical substances and Fertilizers Minister Mansukh Mandaviya had lately mentioned the whole fertiliser subsidy invoice may very well be between Rs 2-2.5 lakh crore within the present fiscal as a consequence of a pointy rise in world costs.
India imports urea, potassic and phosphatic fertilisers, whereas world fertiliser costs have risen because of the Russia-Ukraine warfare.
Additionally learn: Centre cuts excise responsibility on petrol, diesel: Sitharaman