Good news for farmers! IFFCO reduced the prices of fertilizers by up to 14%, read details

Fertilizer Price Reduced: India’s largest fertilizer manufacturer IFFCO or Indian Farmers Fertilizer Cooperative Limited (IFFCO) has decided to cut the prices of many of its fertilizers, giving great relief to the farmers. The company is going to reduce the price of its products by up to 14 percent. According to the report published in Hindustan Times, while giving information on this matter, the company’s official said that this decision has been taken in view of the worldwide food shortage and the rising cost of fertilizers for agriculture.

Poor farmers will get benefit

IFFCO official says that poor farmers will get maximum benefit from this decision. This will reduce the cost of their cultivation. New technology is now being used to make fertilizers. This is reducing the cost of fertilizers, which will now benefit the farmers. Due to this, the production of agriculture in the country will increase and the problems related to food grains will be removed all over the world.

Government gives subsidy to farmers for use of fertilizers

To maintain food security in the country, the government gives subsidy to farmers on the use of fertilizers. The government gives the benefit of subsidy of up to 80 percent to many fertilizer companies, due to which the farmers get its benefit. IFFCO official has told that the price of NPKS, an important fertilizer, has come down from Rs 200 to Rs 1200 per bag. With this, farmers will get the benefit of reduction in the cost of cultivation of Kharif season.

Finance minister fired scissors in budget 2023 on fertilizer subsidy

In Budget 2023, Finance Minister Nirmala Sitharaman has decided to make a big cut in the subsidy on fertilizers. This time the government has made a total provision of Rs 1.75 lakh crore for Fertilizer Subsidy, which is 22 percent less than the current financial year. In the current financial year, the government had decided to increase the subsidy on phosphate and potash fertilizers in view of the global food crisis due to the Russia-Ukraine war. Due to this, farmers have been getting fertilizers at cheap prices.

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