The Centre Thursday approved nutrient based subsidy (NBS) rates for Kharif season 2024 (April-September) on phosphatic and potassic (P&K) fertilisers. A decision to this effect was taken in the meeting of the Union Cabinet, which met under the chairmanship of Prime Minister Narendra Modi. The Cabinet also approved inclusion of three new fertiliser grades under the NBS scheme. The official statement said, “The tentative budgetary requirement for Kharif season 2024 would be approximately Rs 24,420 crore. The subsidy on P&K fertilisers will be provided based on approved rates for Kharif 2024 (applicable from 01.04.2024 to 30.09.2024) to ensure smooth availability of these fertilisers to the farmers at affordable prices.” It stated that the decision will ensure the availability of fertilisers to farmers at “subsidised, affordable and reasonable prices”. “Inclusion of three new grades in NBS will support in promoting balanced soil health and offer alternatives to the framers to choose fertilisers fortified with micro-nutrients as per the soil requirement,” it said. The statement said, “Government is making available 25 grades of P&K fertilisers to farmers at subsidised prices through fertiliser manufacturers The subsidy on P&K fertilisers is governed by NBS Scheme w.e.f 01.04.2010.”
