Cabinet Approves revision in Nutrient Based Subsidy (NBS) rates for RABI Season, 2022-23 (from 01.01.2023 to 31.03.2023)
No: -- Dated: May, 17 2023
The Union Cabinet chaired by the Hon’ble Prime Minister Shri Narendra Modi, has approved the proposal of the Department of Fertilizers for revision in Nutrient Based Subsidy (NBS) rates for various nutrients i.e. Nitrogen (N), Phosphorus (P),Potash (K) and Sulphur (S) for Rabi Season 2022-23 (from 01.01.2023 to 31.03.2023) and approved NBS rates for Kharif Season, 2023 (from 1.4.2023 to 30.09.2023) for Phosphatic and Potassic (P&K) fertilizers.
The Subsidy on P&K fertilizers is governed by NBS Scheme w.e.f. 01.04.2010. Government has approved revision in the NBS rates for Rabi 2022-2023 effective from 01.01.23 to 31.03.2023 and approved the NBS rates for Kharif, 2023 (from 01.04.2023 to 30.09.2023) to make available 25 grades of Phosphatic and Potassic (P&K) fertilizers to farmers at subsidized prices.
Government will be providing a subsidy of Rs. 38,000 crores for the Kharif 2023 to fulfil its commitment of providing quality and subsidized P&K fertilizers to farmers.
The Cabinet decision will have the two-fold benefit of ensuring availability of DAP and other P&K fertilizers to farmers at subsidized, affordable and reasonable prices during Kharif season and will also ensure rationalization of subsidy on P&K fertilizers.
Courtesy – Press Information Bureau, Government of India