Russia invaded Ukraine on 24 February, 2022. Its impact is felt in India as the Union Cabinet approved an additional subsidy of Rs 40,000 crore for the upcoming kharif season (AprilSeptember), seeking to shield farmers from any additional burden due to a sharp rise in input costs globally . The substantial increase in subsidy will help compensate Fertiliser companies for selling their products to farmers at lower – than – market prices. It will cover phosphatic, potassium and diammonium phosphate group of crop nutrients.
Against the allocation of Rs 21,000 crore for the first half of the year, the government will now spend Rs 61,000 crore towards subsidy on phosphate-based fertilisers. The hike in Nutrient Based Subsidy (NBS) is likely to push the goernment’s Fertiliser subsidy bill to around 2 lakh crore, based on current price trends. Government officials said in several segments there is a possibility of a further increase in international prices due to the war in Ukraine.
India, the world’s largest buyer of urea & diammonium phosphate, has been hit by a sharp rise in global Fertiliser prices due to supply disruptions. Costlier raw materials, higher freight charges & tighter coal and natural gas supplies due to the Ukraine war are likely to keep fertiliser prices elevated this year.
The following chart shows how the impact of prices is absorbed:
Absorbing the Price Impact
—————————————
Fertiliser subsidy over the years – Figures in Crore Rs.
————————————————————————
Year P & K fertiliser Urea. Total Subsidy
2019-20 26 ,368. 57,109. 83,477
2020-21. 38,990. 99,537. 1,38, 527
2021-22. 57,202. 1,04,982. 1,62,184
2022-23. 60,940. 67,187. 1,28,127
In short earlier the Russian invasion ends, lesser the price impact across the globe, hence the
prayer for early end of Russian conflict with Ukraine!
Russia Ukraine War Pushes Indian Govt. To Raise Fertiliser Subsidy Upto 55%
Latest from India
India Deploys ₹130 Crore PARAM Rudra Supercomputers Driving Space Research, Semiconductor Growth, and AI Development
Prime Minister Narendra Modi commissioned three PARAM Rudra supercomputers on September 26, 2024, developed indigenously under the National Supercomputing Mission. These ₹130 crore systems, developed by C-DAC, utilize advanced computing architectures for
Delhi Faces Severe Pollution Emergency With AQI Over 1,100, Flights Affected, and PM2.5 Hazardous
The particulate matter sensors at Anand Vihar blinked red at 11 AM on Friday, November 15, 2024. The AQI read 1,105 – each breath containing microscopic PM2.5 particles at levels 65 times
India’s Rich and Powerful Choke on Same Toxic Air Pollution as Millions: Delhi, Mumbai AQI Hits Hazardous 396, 305
In a stark reminder that some things money cannot buy, India’s wealthiest and most powerful residents in Mumbai and Delhi are facing the same toxic air as millions of other citizens. Despite
Ozempic Weight-Loss Craze Hits India’s Gray Market: A Global Obesity Drug Sparks Serious Health Risk Concerns as Celebs Drive Demand
Ozempic, the diabetes medication turned weight-loss sensation, has taken India by storm despite its official unavailability in the country. The semaglutide-based injection, known for its appetite-suppressing effects, has gained immense popularity among
New Giant King Cobra Species Confirmed in India’s Western Ghats: DNA Study Differentiates It from 3 Other Cobras, Revealing Traits from 153 Snakes.
In southern India, a giant cobra has captured scientists’ attention. Although it was known, the results of the discovery are now published in the European Journal of Taxonomy, revealing that it is
Cyclone Dana to Hit Odisha and Bengal: Evacuations Underway with Wind Speeds Topping 120 km/h – 14 Districts on High Alert
The eastern coast of India is preparing for the arrival of Cyclone Dana, a severe cyclonic storm expected to make landfall between Puri, Odisha, and Sagar Island, West Bengal, on October 25,
India’s Vasuki Indicus: The 49-Foot Giant Snake Fossil from the Eocene Found in Gujarat That Could Have Competed with Titanoboa
In a groundbreaking paleontological find, researchers have unearthed fossilized remains of a massive ancient snake species in India’s western state of Gujarat. Named Vasuki indicus after the mythical serpent king Vasuki from
Delhi’s Air Quality Crashes: Anand Vihar Hits Hazardous 433 AQI—See Which Other Areas Are Next
New Delhi, October 19, 2024 – The air quality in Delhi continues to deteriorate, with the Air Quality Index (AQI) reaching alarming levels in several areas across the city. According to the
Tamil Nadu Faces Monsoon Mayhem as Big Depression Looms: Over 130 mm Rainfall in Chennai and Beyond in Just 15 Days, More Expected
The India Meteorological Department (IMD) has sounded the alarm as the Northeast Monsoon unleashes its fury over Tamil Nadu. On Wednesday, S Balachandran, Director of Chennai Regional Meteorological Centre, spoke to ANI,
Sonam Wangchuk’s ‘Delhi Chalo’ March: 100+ Activists Detained as Ladakh Pushes for Statehood and Sixth Schedule
Sonam Wangchuk led a long march from Leh to Delhi starting on 1 September 24. Currently, Marching for almost a month, The Ladakhis demand full statehood and other benefits. Although, Ladakh’s 2
Om Parvat’s Iconic Snow Disappears for the First Time in Recorded History, Shocking Tourists and Locals Alike
Om Parvat in Uttarakhand, known for its organic “Om” snow pattern, has lost its snow cover for the first time in recorded history as a result of decreased rainfall, increased temperatures, pollution,
Assam’s Flood Disaster: Flash Floods Displace Thousands Into Relief Camps While Kaziranga’s Wildlife Faces Dire Threats
As the monsoon season hits, spanning from June to August, it tends to be a very tough time for the people living in the Brahmaputra floodplains as it gets flooded due to
Mumbai Red Alert Issued as Severe Waterlogging Continues, Flights Grounded, Advises Caution Until July 27
Heavy rains have once again wreaked havoc in Maharashtra, submerging several districts, including Mumbai, since morning, severely affecting daily life. The Indian Meteorological Department (IMD) has issued a red alert here since
High Tide Warning for Mumbai: Red and Orange Alerts Issued Across Maharashtra, Several States Warned
In Mumbai, it has been raining heavily for the past several days. Consequently, waterlogging has begun affecting traffic on roads and railways. Central Railway, Western Railway, and Harbour Railway routes are running
Tesla’s Retreat from India: Insights Reveal No Immediate Investment Plans Amid Financial Struggles
Indians have been eagerly awaiting Elon Musk’s electric car company Tesla’s entry into the country for quite some time, but there are no signs of the cars hitting the roads. According to
