Govt approves 1 per cent hike in fertiliser products

The Cabinet committee on Economic Affairs (CCEA) on Thursday approved a hike of 1 per cent in the price of all fertiliser products as additional retailer's margin and laced the decision with a procedural change to ensure the industry gets the subsidy amount only on actual sales to retailers.

The acknowledgement of the receipt from the retailers will be tracked on the ICT enabled mobile Fertiliser Monitoring System and the Fertiliser Monitoring System, according to a statement.

This, sources said, would lead to direct cash transfer of fertiliser subsidy to farmers in due course.

The CCEA has not considered a proposal, pending for long, for 10 per cent increase in urea price, as a first step before its eventual decontrol.

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