The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, on Tuesday approved nutrient-based subsidy rates for phosphatic & potassic fertilisers for FY22.

       Net subsidy for the rabi season to be at Rs 28,665 crore, said the government in a statement.

       "This will enable smooth availability of all P&K fertilizers to the farmers during Rabi Season 2021-22 at the subsidised / affordable prices of fertilizers and support the agricultural sector by continuing the present subsidy levels and giving special packages of additional subsidy for DAP and three mostly consumed NPK grades," said government.

       lt will give Rs 438 per bag benefit on Di-Ammonium Phosphate (DAP) and Rs 100 per bag benefit each on NPK 10-26-26, NPK 20-20-0-13 & NPK 12-32-16 so as to maintain prices of these fertilisers affordable to the farmers, added government.

       The subsidy on P&K fertilisers will be provided based onthe NBS rates approved by the CCEA to ensure smooth availability of these fertilisers to the farmers at affordable prices.