Union minister Mansukh Mandaviya: Fertiliser subsidy may fall 30% to Rs 1.8lakh crore this fiscal | India News

NEW DELHI: Fertiliser subsidy in 2023-24 financial year is likely to be around Rs 1.7-1.8 lakh crore, about 30% less than the last year’s Rs 2.56 lakh crore, due to fall in global prices and lower imports of urea, Union minister Mansukh Mandaviya said on Wednesday. There is adequate stock of fertiliser for the next Kharif season and imports have not been interrupted due to the Red Sea crisis, he added.
Mandaviya told reporters that due to revival of four urea plants in recent years urea imports are estimated at 40-50 lakh tonnes this fiscal, lower from around 75 lakh tonnes imported during 2023-24.
The minister also said that introduction of ‘Bharat Urea’ and ‘Bharat DAP’ has helped government halve the expenditure on transport of fertilisers to Rs 5,000 crore annually.
On the Red Sea crisis impacting supplies, Mandaviya said, “There is no shortage of fertilisers in the country. External affairs ministry is making necessary interventions and our Navy is giving protection to Indian cargo vessels.”