Centre approves Rs 51,875 crore for P&K fertilizer for Rabi 2022-23
New Delhi: The Centre has approved an additional fertilizer subsidy of Rs 51,875 crore for the rabi or winter planting season, which runs from October 2022 to March 2023. The Cabinet Committee on Economic Affairs (CCEA) approved the new nutrient-based subsidy rates for phosphatic and potassic fertilisers on Wednesday.
“This will enable smooth availability of all P&K fertilizers to the farmers during Rabi 2022-23 at the subsidized / affordable prices of fertilizers and support the agriculture sector,” said an official statement adding the volatility in the international prices of fertilizers and raw materials has been primarily absorbed by the government.
The subsidy on phosphatic and potassic fertilisers, which includes support for indigenous fertiliser through freight subsidy, will be provided based on the nutrient based subsidy rates approved by the CCEA to ensure smooth availability of these fertilisers to the farmers at affordable prices.
Maharashtra to provide compensation to farmers for crop loss caused by October rains
The Maharashtra cabinet on Wednesday decided to pay compensation up to three hectares to farmers who lost their crops due to retreating rains last month. This decision was taken in the weekly Cabinet meeting chaired by Chief Minister Eknath Shinde.
For the crop losses in October rains, compensation up to 3 hectares will be provided which is double the amount given through the State Disaster Relief Fund, the Chief Minister’s Office (CMO) said in a statement.
The administration has been asked to conduct panchanamas or assessments of the losses suffered by farmers expeditiously.
As per a preliminary report, rains destroyed crops on 25 lakh hectares of irrigated land.
Kharif onion output estimated to be 13 pc lower; ample rabi onions to contain prices: Report
Decline in acreage and lack of improvement in crop yields is likely to result in 13 per cent fall in onion output for the kharif season 2022-23 to 9.5 million tonnes compared to last year, according to a report. In 2021-22 kharif season, the total onion output stood at 10.8 million tonnes, Crisil said in a report on Wednesday.
However, price escalation following lower output is expected to be contained due to ample availability of rabi onion stocks, the report added.
The rabi 2021-22 season witnessed bumper production to the tune of 20 million tonnes, an increase of 17 per cent year-on-year, it added.
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