ProMASS:DEC08,2016: The Cabinet Committee on Economic Affairs chaired by the Prime Minister Narendra Modi has decided to roll over the existing subsidy rates for Phosphatic and Potassic (P&K) fertilizers for another six months till the end of the financial year 2016-17.
Accordingly, in the interest of farmers, it has also been decided to ensure that any fall in the international prices should be reflected by the fertilizers companies with subsequent reduction in its prices. With fall in international prices, the price of P&K fertilizers was reduced in July 2016.
The fertilizer companies reduced the 50 Kg bag prices of Muriate of Potash by 250 rupees, Di-Ammonium Phosphate by 125 rupees and Complex fertilizers by 50 rupees. This is expected to result in increase in consumption of P&K fertilizers which will result in balanced fertilization. As a result the yield from the crops will increase resulting in enhanced income to the farmers.