Government enhances DAP fertiliser subsidy
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PM Modi okays ₹1200 subsidy per bag to retain present value for farmers, as enter prices soar.
The authorities has enhanced the subsidy on di-ammonium phosphate or DAP fertilisers with a purpose to retain the promoting value for farmers on the present degree of ₹1200 per bag, following a evaluate assembly on fertiliser costs chaired by Prime Minister Narendra Modi on Wednesday.
The transfer, which entails elevating the subsidy from ₹500 per bag to ₹1200 per bag of DAP, will increase India’s annual fertiliser subsidy invoice of about ₹80,000 crore by ₹14,775 crore as subsidy within the Kharif season, an announcement mentioned.
While worldwide costs of phosphoric acid and ammonia used for producing DAP have gone up by 60%-70%, the precise value of a DAP bag is now ₹2,400, the federal government mentioned. With the present subsidy, the worth must be pegged at ₹1900 per bag, but it surely has been retained at ₹1200 per bag.
In April, India’s largest fertiliser producer IFFCO had introduced a 58.33% hike in DAP costs, however later mentioned that farmers will proceed to get previous shares at present costs and the hiked costs had been ‘only tentative’ and used for printing on baggage for dispatching newly produced fertilisers.
“The PM stressed that farmers should get fertilisers at old rates despite the international rise in prices and said his government is committed to the welfare of farmers and will take all efforts to ensure that farmers do not have to face the brunt of price-rise,” the official assertion mentioned, calling this an unprecedented subsidy hike.
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