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Centre boon for farmers: Approves NBS rates for Rabi season-2023-24 on Phosphatic and Potassic fertilisers from Oct 1

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The Government has approved Nutrient-Based Subsidy (NBS) rates for Rabi season, 2023-24 on Phosphatic and Potassic fertilisers applicable from the 1st of October this year till the 31st of March next year. Addressing the media after a Cabinet meeting this afternoon, Union Minister for Information and Broadcasting Anurag Singh Thakur said that the Nutrient-Based Subsidy will be 47.02 rupees per kilo for nitrogen, 20.82 rupees per kilo for phosphorus and 2.38 rupees per kilo for potash.

He said that an expenditure of 22 thousand 303 crore rupees is expected on Nutrient-Based Subsidy. This move will result in the availability of fertilisers to farmers at subsidised, affordable, and reasonable prices. 

The Government has also approved a Memorandum of Cooperation (MoC) between India and Japan on the Japan-India Semiconductor Supply Chain Partnership. The MoC intends to strengthen cooperation between India and Japan towards the enhancement of the semiconductor supply chain, recognising the importance of semiconductors for the advancement of industries and digital technologies. The MoC shall come into effect from the date of signature of the Parties and shall remain in force for a period of five years.

The Cabinet Committee on Economic Affairs (CCEA) has given nod to the inclusion of Jamrani Dam Multipurpose Project of Uttarakhand under Pradhan Mantri Krishi Sinchayee Yojana-Accelerated Irrigation Benefit Programme. It has approved central support of over one thousand 557 crore rupees to Uttarakhand for completion of the project with an estimated cost of more than two thousand 584 crores by March 2028.

The project envisages the construction of a dam near Jamrani village across river Gola, a tributary of river Ram Ganga, in the Nainital district of Uttarakhand. The dam would feed the existing Gola barrage, through its 40.5 km length of canal system and 244 km long canal system, which was completed in 1981. The project envisages additional irrigation of 57,065 hectares in Nainital and Udham Singh Nagar districts of Uttarakhand, and Rampur and Bareilly districts in Uttar Pradesh. 

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