New Delhi: Finance Minister Pranab Mukherjee Monday said the new policy on providing subsidies on fertilisers on the basis of their nutrient composition could soon be extended to urea, one of the most widely used fertilisers.
'Nutrient-based fertiliser policy for urea is under consideration,' Mukherjee said Monday while reading out the budget speech in the Lok Sabha.
The finance minister also said the government was looking at delivering direct cash subsidy for items like fertiliser and fuel (kerosene).
The nutrient-based subsidy (NBS) regime is expected to promote balanced fertilisation and consequently increase agriculture productivity in the country through higher usage of secondary and micro nutrients.
It is also expected that new innovative fertiliser products would be developed subsequently under the NBS regime to meet the different requirements of Indian agriculture while showing the actual demand for fertilisers.