NEW DELHI — Prime Minister Narendra Modi welcomed the Union Cabinet’s approval of Nutrient-Based Subsidy (NBS) rates for phosphatic and potassic (P&K) fertilisers for the Rabi 2026–27 season on Wednesday, reiterating that farmer welfare remains the central government’s highest priority.
In a statement issued following the Cabinet decision, the Prime Minister noted that despite volatile global economic and supply conditions, the administration remains committed to protecting domestic cultivators from international price shocks.
Budgetary Allocation and Price Insulation
The approved subsidy package represents a substantial financial commitment aimed at stabilizing agricultural input costs ahead of the winter sowing season:
-
Financial Outlay: The tentative budgetary requirement for the Rabi 2026–27 subsidy has been pegged at approximately ₹62,370.02 crore, reflecting an increase of roughly ₹24,417.73 crore compared to the allocation for the Rabi 2025–26 season.
-
Shielding Domestic Growers: Prime Minister Modi stated that the enhanced subsidy ensures fluctuations in international fertiliser markets do not affect Indian farmers, guaranteeing uninterrupted access to essential soil nutrients at affordable and reasonable prices.
