The Union Cabinet has cleared ₹41,534 crore towards nutrient-based fertiliser subsidy for the summer-sowing season, a 12% jump from the previous cropping cycle.
The higher subsidy aims to keep the price of 50-kg packages of diammonium phosphate steady at ₹1,350 despite higher import prices.
The nutrient-based subsidy regime offers fertilisers at lower-than-market price to farmers based on their phosphatic and potassic content.
The government makes available 28 grades of P&K fertilisers to farmers at subsidised rates through manufacturers and importers.
Fertiliser manufacturers say a ceasefire announced by Iran and the US will help boost availability and stabilise domestic production ahead of the kharif season.
