Nutrient Based Subsidy (NBS) Rates for Kharif Season, 2024 | Agriculture Current Affairs 2024
The Nutrient Based Subsidy (NBS) scheme is a critical initiative by the Government of India aimed at ensuring the availability of fertilizers to farmers at affordable rates. Launched in April 2010, the NBS scheme has played a vital role in promoting balanced fertilization and sustainable agriculture in the country. With the onset of the Kharif season in 2024, it's essential to understand the new subsidy rates and their implications for farmers and the agricultural sector.
Table of Contents
What is Nutrient Based Subsidy (NBS)?
Under the NBS scheme, subsidies are provided for fertilizers based on the nutrient content—Nitrogen (N), Phosphorus (P), Potash (K), and Sulphur (S). This scheme allows manufacturers to set the Maximum Retail Price (MRP) of fertilizers, while the government provides a fixed subsidy per nutrient, enabling the availability of fertilizers at reduced prices.
The NBS policy primarily covers non-urea fertilizers such as Di-Ammonium Phosphate (DAP), Muriate of Potash (MOP), and complex fertilizers containing N, P, K, and S. Urea, being an essential fertilizer, is subsidized under a separate scheme.
NBS Rates for Kharif Season 2024
For the Kharif season 2024, the Department of Fertilizers, Ministry of Chemicals and Fertilizers, Government of India, has revised the NBS rates. These rates are determined based on the international prices of fertilizers and raw materials, exchange rates, and other factors influencing the cost of production.
According to the Economics Times, the subsidy rates for the Kharif season 2024 are as follows:
- Nitrogen (N): ₹47.02 per kg
- Phosphorus (P): ₹28.72 per kg
- Potash (K): ₹2.38 per kg
- Sulphur (S): ₹1.89 per kg
- Di-ammonium Phosphate (DAP) at ₹1,350 per quintal
- Muriate of Potash (MoP) at ₹1,670 per bag
- NPK at ₹1,470 per bag
These rates reflect the government's commitment to ensuring that farmers have access to essential nutrients at affordable prices, thereby promoting balanced fertilization and improving soil health.
Impact of NBS Rates on Farmers and Agriculture
The revised NBS rates for the Kharif season 2024 are designed to alleviate the financial burden on farmers while ensuring the sustainability of the agricultural sector. Here's how these rates impact various stakeholders:
1. Farmers:
- Cost Reduction: The subsidy helps reduce the cost of fertilizers, making them more affordable for farmers. This is particularly crucial during the Kharif season when the demand for fertilizers is high.
- Balanced Fertilization: By subsidizing nutrients, the NBS scheme encourages farmers to use fertilizers in a balanced manner, preventing the overuse of urea and promoting the use of other essential nutrients like phosphorus and potash.
- Soil Health: Balanced fertilization improves soil health by replenishing essential nutrients, leading to better crop yields and sustainable agricultural practices.
- Crop Productivity: Access to affordable fertilizers ensures that farmers can apply the right amount of nutrients to their crops, enhancing productivity and ensuring food security.
3. Government:
- Subsidy Allocation: The government’s allocation for subsidies reflects its priority in supporting the agricultural sector. The NBS rates are crucial in determining the financial outlay for fertilizer subsidies in the national budget.
Conclusion
The Nutrient Based Subsidy (NBS) scheme continues to be a cornerstone of India’s agricultural policy, particularly during the Kharif season. The revised NBS rates for 2024 underscore the government's commitment to supporting farmers by making essential fertilizers more affordable. As the agricultural landscape evolves, the NBS scheme will play an increasingly vital role in promoting balanced fertilization, enhancing soil health, and ensuring sustainable agricultural growth.
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