Central government has approved Nutrient Based Subsidy rates for Rabi Season 2024 on Phosphatic and Potassic (P&K) fertilizers. These NBS Subsidy Rates would remain applicable from 1.10.2024 to 31.03.2025. For the fertilizer subsidy scheme 2024, the Indian govt. led by PM Narendra Modi has allocated nearly Rs. 24,475.53 crore. Read this article till the end to know what are NBS rates for rabi season under PM Kisan Khad Yojana.
Nutrient Based Subsidy Rates for Rabi 2024
For Phosphatic & Potassic fertilizers, central govt. is implementing Nutrient Based Subsidy scheme w.e.f. 1.4.2010. Under the NBS scheme, a fixed amount of subsidy, decided on an annual/bi-annual basis, is provided on subsidized P&K fertilizers depending on their nutrient content including Di-Ammonium Phosphate (DAP). Under this scheme, MRP is fixed by fertilizer companies as per market dynamics at a reasonable level which is monitored by the Government. The P&K sector is decontrolled and under the NBS scheme the companies are free to take initiatives to produce/import fertilizers as per market dynamics.
Union cabinet committee chaired by PM Modi has approved the proposal of the Ministry of Chemicals & Fertilizers to fix Nutrient Based Subsidy (NBS) rates for RABI Season, 2024 (from 01.10.2024 to 31.03.2025) on P&K fertilizers. The tentative budgetary requirement for Rabi season 2024 would be approximately Rs. 24,475.53 crore. You can now check Nutrient Based Subsidy Rates from here – NBS Notification Rabi 2024-25
Benefits of Fertilizer Subsidy Scheme in India
Here are the major benefits of Nutrient Based Subsidy Scheme (Fertilizer Subsidy Scheme) in India:-
Availability of fertilizers to farmers at subsidized, affordable and reasonable prices will be ensured.
Rationalization of subsidy on P&K fertilizers in view of recent trends in the international prices of fertilizers and inputs.
PM Kisan Khad Yojana Implementation Strategy
The subsidy on P&K fertilizers will be provided based on approved rates for Rabi 2024 (applicable from 01.10.2024 to 31.03.2025) to ensure smooth availability of these fertilizers to the farmers at affordable prices.
Backqround of NBS Subsidy Scheme
Central govt. is making available 28 grades of P&K fertilizers to farmers at subsidized prices through fertilizer manufacturers/importers. The subsidy on P&K fertilizers is governed by NBS Scheme w.e.f. 01 .04.2010. In accordance with its farmer friendly approach, the Union govt. is committed to ensure the availability of P&K fertilizers to the farmers at affordable prices.
In view of the recent trends in the international prices of fertilizers & inputs i.e. Urea, DAP,MOP and Sulphur, Government has decided to approve the NBS rates for Rabi 2024 effective from 01.10.24 to 31.03.25 on Phosphatic and Potassic fertilizers. The subsidy would be provided to the fertilizer companies as per approved and notified rates so that fertilizers are made available to farmers at affordable prices.
Official Website for Fertilizer Subsidy Scheme in India (PM Kisan Khad Yojana) – https://www.fert.nic.in/
