Ex post facto approval regarding Special Banking Arrangement for payment of outstanding subsidy to fertilizer companies during 2013-14

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..... Ex post facto approval regarding Special Banking Arrangement for payment of outstanding subsidy to fertilizer companies during 2013-14
News and Press Release
Dated:- 20-10-2014

The Cabin .....

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..... et Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, approved ex post facto the implementation of the Special Banking Arrangement (SBA) for ₹ 14,500 crore for out .....

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..... standing claims on account of fertilizer subsidy in the year 2013-14. Government is making fertilizers namely Urea and 22 grades of Phosphatic and Potassic (P&K) fertilizer available to farmers at su .....

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..... bsidized prices through fertilizer manufacturers / importers. Subsidy to fertilizer companies is paid from funds allocated under regular budget estimates for each year. In order to meet carried over s .....

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..... ubsidy liabilities and help fertilizer companies overcome their liquidity problems, due to delay in payment of subsidy, an SBA had been made during 2013-14 with a consortium of nationalized banks to a .....

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..... vail loans with the approval of the Ministry of Finance. The loan together with Government interest amounting to ₹ 169.33 crore has been repaid from Budget Estimates for 2014-15, within the san .....

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..... ctioned budget under the Vote on Account.
News - Press release - PIB .....

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