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Govt may cut potash subsidy in potential blow to demand

By 17% in the next financial year to reduce the fiscal deficit

Reuters  |  Mumbai 

An Indian government ministry has proposed slashing potash subsidies by 17% in the next financial year to reduce the fiscal deficit, officials said, a move that would hit demand in one of the world's largest importers of the fertiliser.   Although global prices have been falling, a reduction in government support in India would make potash relatively expensive for the companies that import it.   Some officials at those companies said that were the proposal to be adopted, they would seek lower prices when negotiating annual contracts with global suppliers and ...

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First Published: Fri, February 17 2017. 04:00 IST
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