Due to an increase in the price of fertilisers and their raw materials on the worldwide market, the Ministry of Chemicals and Fertilizers of the Indian Government increased the budget for fertiliser subsidies by over 100%, from Rs. 109187 to Rs. 218476, in the current fiscal year 2022–23. The government has taken this brave move to make fertilisers readily available to Indian farmers all year round at reasonable prices.
India has spent INR 207465 crores on fertiliser subsidies as of January 23, which is 95% of the overall budget for subsidies, which is INR 218476 crores, including an additional budget for subsidies of INR 10928.95 crores.
The amount spent on urea is INR 142347 Crores (95% of the overall budget for urea subsidies, or INR 153351 Crores), while the amount spent on P & K subsidies is INR 65118 Crores (almost 100% of the whole budget for DAP subsidies, or INR 65122 Crores), as of this writing.