Fertiliser stocks jump as finance ministry plans subsidy revamp

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The government is planning to de-control urea prices.

Fertiliser stocks were seeing buying on January 15 after a report said that the government was looking to revamp the subsidy system.

chemicals

The finance ministry was considering direct payment of subsidy to farmers in advance. The fertiliser ministry will use PM-KISAN beneficiaries to disburse the advances, CNBC-TV18 quoted NewsWire as saying.

The government is planning to de-control urea prices, which could push up the price of a 45-kg bag to Rs 400-445 from Rs 242.

This financial year fertiliser the subsidy is likely to touch Rs 1.1 lakh crore.
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First Published on Jan 15, 2020 03:18 pm



Credit: Moneycontrol