The Union Cabinet, on Thursday, approved the Nutrient Based Subsidy (NBS) rates for the upcoming Kharif season on Phosphatic and Potassic (P&K) fertilizers and to include three more fertilizer grades under the NBS scheme.
The Centre said tentative budgetary requirements for the scheme would be about ₹24,420 crore. The subsidy on Nitrogen (N) has been fixed at ₹47.02 per kilogram, phosphatic (P) at ₹28.72 per kg (₹20.82 per kg in 2023 rabi season), potassic (K) at ₹2.38 per kg, and Sulphur (S) at ₹1.89 per kg, the Union Information and Broadcasting Minister Anurag Thakur told presspersons after the Cabinet meeting. The subsidy on nitrogen (N), potassic (K) and Sulphur (S) was the same in the 2023 rabi season too.
