The Union Cabinet chaired by Prime Minister Narendra Modi has approved the Nutrient Based Subsidy (NBS) rates on P&K fertilizers for Rabi season 2024 (October 2024 to March 2025). The decision is aimed at ensuring availability of fertilizers to farmers at subsidized, affordable and reasonable rates. The government is making available 28 grades of P&K fertilizers to farmers at subsidized prices through fertilizer manufacturers/importers. Subsidy on P&K fertilizers is governed by the NBS Scheme. The NBS Scheme is effective from April 1, 2010. In view of the recent trends in international prices of fertilizers and inputs i.e. Urea, DAP, MOP and Sulphur, the Government has decided to approve the NBS rates for Rabi 2024 on P&K fertilizers. In this, subsidy will be provided to the fertilizer companies as per the approved and notified rates of N (nitrogen), P (phosphorus) and K (potash) so that fertilizers can be made available to the farmers at affordable prices.
