Centre's fertiliser subsidy bill in FY23 may shoot up to Rs 2.3 trillion

According to trade and industry sources, Russia, Ukraine, and Belarus account for almost 20 per cent of phosphoric acid imported into India

The Centre’s fertiliser subsidy outlay for the current fiscal year could be as high as Rs 2.10-2.30 trillion because of sustained high commodity and oil prices due to the war in Ukraine, Business Standard has learnt. This will be the highest-ever spending on fertiliser subsidy in a year by a considerable margin; the FY23 Budget estimate is at Rs 1.05 trillion.

Also, the Cabinet is soon expected to take up a proposal to increase the subsidy for urea-based fertilisers to Rs 1.20 trillion, from the current Rs 67,000 crore. “The Cabinet may take up the proposal within the next two