The government is likely to cut its annual fertiliser subsidy by 4% to around Rs 70,000 crores in its budget proposals for fiscal year 2015-16, two government sources with knowledge of the matter told Reuters. India had earmarked a subsidy of Rs 73,000 crores for the current fiscal year ending March 31. Read our full coverage on Union Budget "There is no plan to increase fertiliser prices," one of the sources told Reuters. He said the roadmap for reforms in the subsidy structure for the fertiliser sector would be unveiled after the budget.
Govt may marginally cut fertiliser subsidy in budget
Government sources say a 4% cut looks increasingly likely