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Union Budget 2021

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Fertilizer & Chemical Ministry seeks additional Urea subsidy in Budget 2021

The Fertilizer and chemicals ministry has sought an additional urea subsidy of Rs 80,000 Cr in the upcoming Union Budget. This is over and above the Rs 65,000, Cr subsidy announced under Aatmanirbhar Bharat in November 2020. Sources tell ET Now that the Centre may also opt for a Direct Benefit Transfer scheme route to grant this additional subsidy to farmers rather than granting it to the fertilizer companies.  The government had implemented a DBT scheme for LPG subsidies so that the subsidy amount directly reaches genuine beneficiaries. The Centre is currently mulling over a proposal submitted by the Fertilizer ministry in June 2020 where farmers as beneficiaries could directly receive the amount in order to buy fertilizers through their bank accounts by PM Kisan scheme. Under current practice, government transfers subsidy amounts to fertilizer companies which results in an extended bill verification process and hence delayed payments to farmers.
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