Nutrient Based Subsidy Rates

• 19 Sep 2024

On 18th September 2024, the Union Cabinet has approved the Nutrient Based Subsidy (NBS) rates for Phosphatic and Potassic (P&K) fertilizers for the Rabi season, ensuring affordable fertilizer availability for farmers.

Key Points

• Budget Allocation: The budgetary requirement for the NBS during the rabi season 2024-25 is estimated at Rs 24,475.53 crore.
• Ministry's Proposal: The Ministry of Chemicals & Fertilizers' proposal for fixing NBS rates for P&K fertilizers was approved by the Cabinet.
• Affordable Fertilizers: The initiative aims to provide fertilizers at subsidized and reasonable prices, supporting farmers during the crucial rabi season.