The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, on Wednesday approved the Department of Fertilizers's proposal for continuation of Nutrient Based Subsidy (NBS) and City Compost Scheme beyond 12th Five Year plan till 2019 - 20.
The total expenditure for continuation of both the schemes will be Rs 61, 972 crore.
"The expenditure for the scheme will be on actual basis since national roll out of DBT entails 100 per cent payment of subsidy to fertilizer companies on sale of fertilizers to farmers at subsidised rates, " said an official statement.
"The subsidy on the P&K fertilizers and Market Development Assistant (MDA) on City Compost will be provided on the subsidy rates approved by the CCEA on annual basis. "
The continuation of the NBS scheme and City Compost Scheme will ensure that adequate quantity of P&K is made available to the farmers at statutory controlled price, it said.
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