Mid-East crisis may inflate fertiliser subsidy bill by 9%
fertiliser subsidy bill to go up by 8-9% on the back of ongoing Middle East crisis, officials said, adding that the Centre wants to have the headroom for a future price shock.
The fertiliser subsidy for 2024-25 is budgeted at ₹1.64 lakh crore, 13.18% lower than the revised estimate of ₹1.88 lakh crore for 2023-24.
The Centre has released ₹17,814.80 crore for nutrient-based subsidy and ₹43,355.09 crore for urea subsidy until September.
«We are in a comfortable situation for the current sowing period, but fertiliser costs may rise if the crisis continues,» an official told ET. «We are closely monitoring the situation and the allocation can be raised if required.»
The chemical and fertiliser ministry also expects better demand in the rabi season and could seek additional funds in the budget discussions with the finance ministry.
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