TMI BlogCabinet approves fixation of Nutrient Based Subsidy rates for Phosphatic and Potassic (P&K) fertilizers for the year 2018-19X X X X Extracts X X X X X X X X Extracts X X X X ..... Cabinet approves fixation of Nutrient Based Subsidy rates for Phosphatic and Potassic (P&K) fertilizers for the year 2018-19 - News and Press Release Dated:- 29-3-2018 - News - The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi has approved the proposal of the Department of Fertilizers for fixation of Nutrient Based Subsidy (NBS)rates for P K Fertilizers for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the year 2018-19. The approved rates for NBS are as follows: Per Kg Subsidy rates (in Rs.) Nitrogen (N) Phosphorus (P) Potash (K) Sulphur (S) 18.901 15.216 11.124 2.722 The CCEA has also accorded ex-post ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... facto approval on the proposal of the Department of Fertilizers subsidy paid on specific quantity of P K fertilizers received in the districts during February March months in different years since 2012-13 at the rates fixed for the next financial year which were lower than the rates approved by Cabinet/CCEA for that year. The CCEA has authorized Department of Fertilizers for releasing subsidy ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , if required, as per the rates fixed for the financial year or of the next financial year whichever is lower on the specific category/quantity of P K fertilizers received in districts during February and March months of the year in consultation with Department of Expenditure. Financial Outlay: The expected expenditure for release of subsidy on P K Fertilizers during 2018-19 will be ₹ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ; 23007.16 crore. Background: Government is making available fertilizers, namely Urea and 21 grades of P K fertilizers to farmers at subsidized prices through fertilizer manufacturers/importers. The subsidy on P K fertilizers is being governed by NBS Scheme w.e.f 01.04.2010. In accordance to its farmer friendly approach, the Government is committed to ensure the availability of P K fertili ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... zers to the farmers on affordable price. The Government has increased the subsidy expenditure by ₹ 1913.07 crore in comparison to Financial Year 2017-18 to save the farmers from the impact of increase in international prices of P K fertilizers. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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