Monday, July 6, 2009

Union Budget 2009 | Government changes fertiliser subsidy method

India will change the method of subsidising fertiliser prices by shifting to a "nutrient based subsidy regime" from a "product pricing regime", Finance Minister Pranab Mukherjee announced while presenting the 2009-10 budget in parliament Monday.

So far fertiliser manufacturers have been subsidised so that they sell to farmers at low prices. Mukherjee said the new move would lead to "unshackling of the fertiliser manufacturing sector", and he expected "fresh investments" as well as "direct transfer of subsidies to farmers".

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