Govt approves Rs 60,939 crore subsidy for P&K fertilisers for April-September
The government on Wednesday approved a subsidy of Rs 60,939.23 crore for phosphatic and potassic (P&K) fertilisers, including DAP, for the first six months of this fiscal, as part of its efforts to provide soil nutrients to farmers at an affordable price.
The Union Cabinet has approved nutrient-based subsidy (NBS) rates for Phosphatic and Potassic fertilisers for the Kharif season (from April 1, 2022, to September 30, 2022).
Briefing media about the Cabinet decision, Information and Broadcasting Minister Anurag Thakur said the Cabinet has approved a subsidy of Rs 60,939 crore on P&K fertilisers for the Kharif season against the subsidy of around Rs 57,150 crore on these nutrients for the entire last fiscal.
RBI extends cash credit limit for wheat procurement from Punjab
The Punjab government on Thursday said the RBI extended the cash credit limit (CCL) for the ongoing wheat procurement from the state.
The Reserve Bank of India (RBI) extended the CCL of Rs 3,378.15 crore till the end of May.
With this, the sanctioned limit of Rs 24,773.11 crore for April-end has been enhanced to Rs 28,151.26 crore up to May-end, according to an official spokesperson of the state government.
India’s wheat export boom brings a bonanza to farmers, and budget relief
INDORE/SARANGPUR: For the first season in over a decade, Indian farmer Rajensingh Pawar is selling his new wheat crop to private traders instead of the state stockpiler, as a global wheat price rally gives India’s suppliers a rare profitable export window.
Strong demand following Russia’s invasion of Ukraine means growers are receiving the highest prices ever for their crops, while also easing pressure on the state’s grain procurement agency which racks up huge debts as a buyer of last resort.
The boom times have come as Pawar and his peers harvest a record Indian wheat crop, giving growers a rare opportunity to sell the grain just as global prices hold near all-time highs.
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