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PM Modi Announces Approval of Nutrient-Based Fertiliser Subsidies for Farmers
Sentiment: NeutralHigh Priority
What Happened?
Prime Minister Narendra Modi announced the Union Cabinet's approval of a nutrient-based fertiliser subsidy for the 2026-27 rabi season, with a budget of approximately Rs. 62,370 crore. This move aims to protect farmers from international price fluctuations.
Key points
- The subsidy aims to shield farmers from volatile international market prices.
- The budget for the subsidy is Rs. 62,370 crore, up from Rs. 37,952 crore last season.
- The subsidy will cover Phosphatic and Potassic (P&K) fertilisers, including DAP and NPKS grades.
- The subsidy is effective from October 1, 2026, to March 31, 2027.
- The government is committed to ensuring the availability of 28 grades of P&K fertilisers at subsidised prices.
Key insights
- The increased budget reflects the government's commitment to supporting agriculture amid global price volatility.
- Farmers may benefit from more predictable fertiliser costs, aiding in their financial planning.
- This subsidy could enhance agricultural productivity by ensuring timely access to necessary nutrients.
Impact on India
The subsidy is expected to directly benefit Indian farmers by providing them with affordable fertilisers.
Why it matters
This decision could help stabilize farmers' costs and ensure access to essential fertilisers.
Entities
Narendra Modi· PersonUnion Cabinet· OrganizationIndia· Country
Source
Times Now
