Cabinet nod for ₹1.08 lakh crore kharif fertilizer subsidy

With fertilizer prices continuing to remain high due to global factors — such as a fall in production and hiked logistics costs, especially due to the Ukraine situation — the Centre expects this year’s fertilizer subsidy to cross ₹2.25 lakh crore. Accordingly, the Union Cabinet on Wednesday approved a ₹1.08 lakh crore subsidy for the ongoing kharif or monsoon season, Fertilizers Minister Mansukh Mandaviya said. Out of this, ₹38,000 crore will subsidise phosphatic and potassic (P&K) fertilizers, while ₹70,000 crore will go toward the urea subsidy. Last year, the total fertilizer subsidy was about ₹2.56 lakh crore.