India’s fertiliser subsidy invoice is probably going to shoot up by 55 per cent to record Rs 2.5 trillion this fiscal as the federal government will present further funds to make up for the spike in price from increased import value, prime sources mentioned on Thursday.
The authorities will be sure that there isn’t any scarcity of fertilisers within the nation throughout the kharif (summer-sown) and rabi (winter-sown) season and it’s already in talks with main world producers to import key soil vitamins, they added.
According to the sources, Union Chemicals and Fertilisers Minister Mansukh Mandaviya is probably going to go to many international locations, together with Saudi Arabia, Oman, and Morocco quickly to safe imports for each brief and long run.
“The government is working hard to ensure there is no shortage of fertilisers in the country,” mentioned a prime authorities functionary, and added that the nation has adequate shares for each the rabi season and the kharif season.
The authorities is not going to improve retail costs of urea and in addition present sufficient subsidies to be sure that the utmost retail costs of non-urea fertilisers stay at this time degree, the sources mentioned.