The government has announced a 5% increase in gas allocation to fertiliser plants, reaching about 95% of their six-month average consumption starting from April 9. This decision follows the ceasefire between the US and Israel, which is anticipated to facilitate the movement of ships carrying oil and gas through the Strait of Hormuz.
Indian seafarers in the Gulf region are reported safe, with no incidents involving Indian-flagged vessels in the past 24 hours. The Directorate General of Shipping, in collaboration with ship owners and Indian Missions, is actively monitoring the situation.
In addition to the gas supply boost, the Union Cabinet has approved the Department of Fertilisers’ proposal to set Nutrient Based Subsidy (NBS) rates for Phosphatic and Potassic (P&K) fertilisers for this year’s kharif season. The budgetary requirement for the kharif season is estimated to be around Rs 41,533.81 crore, an increase of approximately Rs 4,317 crore from the previous season.
To ensure the availability of fertilisers to farmers at reasonable prices, the subsidy on P&K fertilisers is being rationalized based on global price trends. The government aims to provide subsidies to fertiliser companies at approved rates, enabling farmers to access fertilisers affordably.
The government is committed to offering 28 grades of P&K fertilisers, including DAP, to farmers at subsidized rates through manufacturers and importers. The subsidy on P&K fertilisers has been governed by the NBS Scheme since April 1, 2010, aligning with the government’s farmer-centric approach to make fertilisers accessible at fair prices.
