The Cabinet Committee on Economic Affairs has approved the proposal of Department of Fertilizers to continue Urea Subsidy Scheme upto 2019-20 at a total estimated cost of Rs. 1,64,935 crore and for disbursement of fertilizer subsidy. This decision implies that there will be no increase in price of urea, till 2020.
Urea Subsidy is a part of Central Sector Scheme of Department of Fertilizers with effect from 1st April, 2017 and is wholly financed by the Government of India through Budgetary Support. The continuation of Urea Subsidy Scheme will ensure the timely payment of subsidy to the urea manufacturers resulting in timely availability of urea to farmers.
Static/Current Takeaways Important for Exams-
- Ananthkumar is the Union Minister of Chemicals and Fertilizers.
Source- Press Information Bureau (PIB)