In the fiscal year 2024-25, the Indian Government has earmarked ₹1.64 trillion for fertilizer subsidies, a decrease from the revised estimate of ₹1.95 trillion allocated in FY 2023-24. Despite India’s progress towards self-sufficiency in urea production, it still depends on imports to meet its rock phosphate and potash demand.
The urea subsidy budget for FY 2024-25 stands at ₹1.22 trillion, reflecting a 7.6% decrease from last year’s subsidy amount of ₹1.32 trillion.
Furthermore, the total nutrient-based subsidy budget for P&K fertilisers is ₹0.45 trillion, marking a significant 31% reduction from the previous year’s subsidy budget of ₹0.65 trillion.
For further details, please refer to the attached statement…..