According to the department, instead of shelling out huge moneys for importing urea at $700 a tonne now, reviving a 1,155 MT unit will help the government save Rs 1,455 crore. Domestic demand for urea has shot up 30 per cent to 26.1 million tonne in 2007-08 and is projected to further rise to 35.43 million tonne this year. In the last fiscal, India imported 6.9 million tonne, 47 per cent more than in 2006-07.
“The proposed support will be recovered by the government within two years from the estimated savings in subsidy. The same will be recovered faster in the event of further increase in international prices of urea,” it said, making a strong pitch for the package.
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