New Delhi: The Union Cabinet has given the green light to a proposal worth Rs 24,420 crore to set the rates for subsidising phosphatic and potassic (P&K) fertilisers. This move also includes adding three new types of fertilisers to the subsidy scheme for the Kharif season of 2024, which runs from April to September this year.


Why Is It Important?


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This scheme aims to ensure that farmers can get fertilisers they need at prices that are subsidised, meaning they're cheaper and more affordable. It's a way to make sure farmers have access to fertilisers without having to spend too much money. (Also Read: India's GDP Grows At 8.4% In Q3; Economy To Expand At 7.6% In FY24: Govt Data)


What's The Plan?


The government will adjust the subsidy rates for P&K fertilisers based on the current international prices for these fertilisers and the cost of the materials needed to make them. By doing this, they hope to make sure that the subsidy rates are fair and reflect the actual costs. (Also Read: Mamaearth Co-Founder Ghazal Alagh Opens Up About Facing Sexism; Read Her Post)


New Additions


The plan also involves including three new types of fertilisers in the subsidy scheme. These fertilisers are designed to help improve soil health and give farmers more options when choosing fertilisers that are right for their land.


What Farmers Can Expect

Farmers can expect to get subsidised rates for P&K fertilisers during the Kharif season of 2024, starting from April 1st and lasting until September 30th. This ensures that farmers can easily access the fertilisers they need without worrying too much about the cost.


Overall Impact

This initiative makes a total of 25 types of P&K fertilisers available to farmers at subsidised rates. The aim is to support farmers in increasing their crop production and ultimately boosting their income.


(With IANS Inputs)