The Cabinet has approved for the current Kharif season Rs. 38,000 crore additional fertilizer subsidy sanctioned

[ad_1]

New Delhi: The Union Cabinet today approved an allocation of Rs. 38,000 crore subsidy has been sanctioned. Along with this, the total cost of fertilizer subsidy in the current Kharif season has increased to Rs. 1.08 lakh crores. The government provides subsidy on fertilizers to ensure that farmers get them at reasonable prices.

Rs. 1.08 lakh crore in fertilizer subsidy compared to the Rs. 70,000 crores included. While announcing the subsidy of Rs 38,000 crore, the government further said that there will be no change in the maximum retail price (MRP) of fertiliser.

Significantly, the Kharif season in India continues from April to September. The fall in global prices in the last few months has reduced the subsidy burden on phosphate and potash fertilizers in the current kharif season.

The fertilizer bill is likely to touch Rs 2.25 lakh crore for the entire financial year 2023-24. Nitrogen (N), Rs. 41 per kg of phosphorus (P), Rs. 15 per kg of potash (K) and Rs. 2.8 per kg of Sulfur (S) for Rs. 76 per kg subsidy has been sanctioned. Another decision was approved under the chairmanship of Prime Minister Narendra Modi. The Cabinet today approved an allocation of Rs. 17,000 crore has been sanctioned.

PLI Scheme-2 for IT hardware includes laptops, tablets, all-in-one PCs, servers and ultra small form factor devices. According to the government, the scheme will generate an investment of Rs 2,430 crore and provide employment to 75,000 people.