Recently there was an increase in the international prices of raw materials for manufacturing P&K fertilizers and finished P&K fertilizers. To avoid any distress arising out of this increase, the Govt. announced additional funds of Rs.14,775/- Crore for DAP and P&K fertilizers.
The Government of India has notified new NBS rates for P&K fertilizers on 20.05.2021 till Kharif season 2021 i.e. till Oct. 2021, wherein the subsidy on P&K fertilizers has been increased in order to keep the MRP of DAP and other P&K fertilizers at affordable prices in order to mitigate/minimize the adverse effect arising due to such increase in the international prices.
Besides, the MRP of Urea is statutorily fixed by the Government of India. MRP of 45 kg of bag of urea is Rs. 242 per bag (exclusive of charges towards neem coating and taxes as applicable).
Source : PIB