The union Cabinet approved a subsidy of ₹24,420 crore for phosphatic and potassic fertilisers for the upcoming kharif season, while maintaining the rate for di-ammonium phosphate at ₹1,350 per bag of 50 kg. The Cabinet also approved three new fertiliser grades under the Nutrient-Based Subsidy scheme to reduce import dependence.
Unlike urea, P&K fertilisers are decontrolled products. The prices are fixed by the manufacturers and the government gives them fixed subsidies each year. For the current fiscal year, subsidies for P&K fertilisers have been kept unchanged.