Day: January 1, 2021

Fertiliser companies may have to wait to get money from additional subsidy provision

 

Fertiliser companies may possibly have to wait for some time to get revenue from added subsidy of ₹65,000 crore, as the Finances allocation for the present fiscal has almost been fatigued.

“They (companies) will get it before the close of the financial calendar year (2020-21, ending on March, 31),” a senior Finance Ministry official informed BusinessLine. With demand for fertiliser heading up, so has the need for subsidy through the present fiscal on account of higher sowing through crop seasons of 2019-twenty and 2020-21.

In the Finances for FY21, the federal government experienced presented ₹47,805 crore as subsidy for urea and ₹23,504 crore for nutrient based mostly subsidy. On November 12, Finance Minister Nirmala Sitharaman declared that as fertiliser intake was heading up significantly, ₹65,000 crore will be presented to ensure enhanced offer of fertilisers to farmers to enable well timed availability of fertilisers in the approaching crop period.

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