Fertiliser subsidy may come down

New Delhi (PTI): Fertiliser subsidy, estimated at Rs 1,20,000 crore in the current fiscal, is likely to come down below Rs 1,00,000 crore owing to fall in prices of major nutrients like nitrogen and phosphate in global market. This could give a major breather to the government, particularly at a time when it is battling to minimise the impact of global financial crisis on the Indian economy, said experts. "Prices of imported fertilisers such as urea and DAP have fallen. So, the subsidy is expected to fall significantly. Though we are doing fresh calculations to reach the exact figure, the subsidy will be below Rs 1,00,000 crore," a senior government official said. As costs of both... [read full story]