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Cabinet approves Nutrient Based Subsidy rates for Kharif Season, 2024

Published By : Admin | February 29, 2024 | 16:28 IST

The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the proposal of the Department of Fertilizers for fixing the Nutrient Based Subsidy (NBS) rates for KHARIF Season, 2024 (from 01.04.2024 to 30.09.2024) on Phosphatic and Potassic (P&K) fertilizers and inclusion of 3 new fertilizer grades under NBS scheme. The tentative budgetary requirement for Kharif season 2024 would be approximately Rs.24,420 crore.

Benefits:

  1. Availability of fertilizers to farmers at subsidized, affordable and reasonable prices will be ensured.
  2. Rationalization of subsidy on P&K fertilizers in view of recent trends in the international prices of fertilizers and inputs.
  3. Inclusion of three new grades in NBS will support in promoting balanced soil health and offer alternatives to the framers to choose fertilizers fortified with micro-nutrients as per the soil requirement.

Implementation Strategy and targets:

The subsidy on P&K fertilizers will be provided based on approved rates for Kharif 2024 (applicable from 01.04.2024 to 30.09.2024) to ensure smooth availability of these fertilizers to the farmers at affordable prices.

Background:

Government is making available 25 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 Government 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 Kharif 2024 effective from 01.04.24 to 30.09.24 on Phosphatic and Potassic (P&K) fertilizers. Government has also decided to include 3 new Fertilizer grades under the NBS scheme. 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.

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PM Modi highlights the far-reaching impact of the government’s pro-farmer initiatives
June 07, 2025

The Prime Minister, Shri Narendra Modi has underlined the far-reaching impact of the government’s pro-farmer initiatives over the past 11 years, marking a significant phase of dignity and prosperity for the agricultural community.

He highlighted key initiatives such as the PM Kisan Samman Nidhi and Kisan Fasal Bima, describing them as important steps taken by the government for the welfare of farmers.

The Prime Minister also noted that due to the continuous increase in Minimum Support Price (MSP), the country’s food producers are not only receiving fair prices for their crops but are also experiencing a rise in their income.

Shri Modi emphasized that it has been a privilege for his government to serve the hardworking farmers of the country. Reflecting on the last 11 years, he said that the government’s various initiatives have not only enhanced prosperity among farmers but have also contributed to an overall transformation of the agriculture sector.

The Prime Minister highlighted that the government has paid close attention to key aspects such as soil health and irrigation, which have been greatly beneficial.

Our efforts towards farmer welfare will continue with greater vigour in the times to come, Shri Modi further stated. He said that we have worked on dignity and prosperity for our farmers.

The Prime Minister posted on X;

"हमारे किसान भाई-बहनों को पहले जहां छोटी-छोटी जरूरतों के लिए भी उधार लेने को मजबूर होना पड़ता था, वहीं बीते 11 साल में हमारी सरकार के निर्णयों से उनका जीवन बहुत आसान हुआ है। पीएम किसान सम्मान निधि हो या फिर किसान फसल बीमा, हमने उनके कल्याण के लिए कई अहम कदम उठाए हैं। अब एमएसपी में निरंतर बढ़ोतरी से देश के अन्नदाताओं को ना सिर्फ फसलों की उचित कीमत मिल रही है, बल्कि उनकी आय भी बढ़ रही है।

#11YearsOfKisanSamman"

"It’s our privilege to serve our hardworking farmers. For the past 11 years, our various initiatives have boosted prosperity for farmers and also ensured an overall transformation of the agriculture sector. We have focussed on issues like soil health and irrigation, which have been greatly beneficial. Our efforts towards farmer welfare will continue with greater vigour in the times to come.

#11YearsOfKisanSamman"

"Do read this thread to get a glimpse of how we have worked on dignity and prosperity for our farmers.

#11YearsOfKisanSamman"