In a significant move aimed at bolstering India’s agricultural sector, the union Cabinet has given the nod for a substantial subsidy package amounting to ₹24,420 crore for phosphatic and potassic (P&K) fertilizers in the upcoming kharif season. This decision underscores the government’s steadfast commitment to supporting farmers and ensuring the availability of essential agricultural inputs at affordable prices.
Unchanged DAP Rates, New Grades Introduced
Highlighting its dedication to stability and continuity, the Cabinet has maintained the price of di-ammonium phosphate (DAP) at ₹1,350 per bag of 50 kg, providing a sense of assurance to farmers who rely on this crucial fertilizer. Moreover, the inclusion of three new fertilizer grades under the Nutrient-Based Subsidy (NBS) scheme marks a proactive step towards reducing import dependence and promoting self-sufficiency in fertilizer production.
Boosting Agricultural Productivity and Self-Reliance
The substantial increase in subsidy for phosphatic fertilizers, from ₹20.82 to ₹28.72 per kg for the April-September 2024 kharif season, reflects the government’s strategic approach to enhancing agricultural productivity. By incentivizing the use of phosphatic and potassic fertilizers, farmers will be empowered to optimize crop yields and contribute to India’s food security objectives.
Continued Affordability and Accessibility
With the subsidy in place, critical fertilizers like DAP and muriate of potash will remain accessible to farmers at affordable rates, ensuring continuity in agricultural operations without undue financial burden. The stability in pricing coupled with the introduction of new fertilizer grades underscores the government’s proactive measures to address the evolving needs of the agricultural sector.
Empowering Farmers, Strengthening Agriculture
By maintaining subsidy rates for essential fertilizers and introducing new grades under the NBS scheme, the government is actively empowering farmers and bolstering the agricultural ecosystem. This initiative not only supports farmers in maximizing their yields but also fosters self-reliance in fertilizer production, aligning with the vision of an Atmanirbhar Bharat.
Ensuring Sustainable Agricultural Practices
The Cabinet’s decision to enhance subsidies for P&K fertilizers underscores its commitment to promoting sustainable agricultural practices. By incentivizing the use of nutrient-rich fertilizers, the government aims to enhance soil fertility, mitigate environmental degradation, and foster long-term agricultural sustainability.
Conclusion
In conclusion, the Cabinet’s approval of a substantial subsidy package for P&K fertilizers reflects its unwavering dedication to the welfare of farmers and the growth of the agricultural sector. With measures in place to maintain affordability, introduce new grades, and promote self-sufficiency, the government is poised to catalyze agricultural growth and propel India towards a brighter, more resilient future.