The Union cabinet on Wednesday announced a Rs 22,303-crore subsidy on phosphatic and potassic (P&K) fertilisers for the current rabi season and said the farmers will continue to get key soil nutrient DAP at Rs 1,350 per bag.

This is much lower than the subsidy for P&K fertilisers in the 2022-23 rabi season, which was Rs 51,875 crore.

In May, the cabinet approved a subsidy of Rs 38,000 crore on P&K fertilisers for the kharif season of 2023-24.

I&B minister Anurag Thakur said NPK will also be available at the old rate of Rs 1,470 per bag and SSP (single super phosphate) at around Rs 500 per bag.

The MoP (Muriate of Potash) rates will come down to Rs 1,655 per bag from Rs 1,700 per bag.

The cabinet has fixed the NBS rate of nitrogen (N) at Rs 47.02 per kg, phosphorus (P) at Rs 20.82 per kg, potash (k) at Rs 2.38 per kg and sulphur (S) at Rs 1.89 per kg.

For the kharif season of 2023-24, the government had a fixed per kg subsidy rate on N at Rs 76 per kg, Rs 41 per kg on P, Rs 15 per kg on K and Rs 2.8 per kg on S.

When asked about the reduction in per kg subsidy rate of N, P, K and S, Thakur said the international prices of finished products and raw materials have come down slightly, but it is still high, and therefore, the government is providing subsidies to maintain the old rate.

On benefits, the government said in a statement that the availability of fertilisers to farmers at subsidised, affordable and reasonable prices will be ensured.