Centre approves ₹62,370cr fertilizer subsidy for rabi season
What's the story
The Union Cabinet has approved a massive ₹62,370 crore fertilizer subsidy for the ongoing rabi season. The decision was announced by Union Information and Broadcasting Minister Ashwini Vaishnaw after a Cabinet meeting on Wednesday. The move is part of the government's nutrient-based subsidy (NBS) scheme, which provides phosphatic and potassic fertilizers to farmers at subsidized rates.
Scheme details
What is the nutrient-based subsidy scheme?
Under the NBS scheme, the government fixes subsidy rates for various nutrients for each cropping season.
The rates are determined based on domestic and international prices of fertilizers and their inputs.
The subsidy is then paid to manufacturers and importers to ensure that fertilizers remain available at affordable prices for farmers.
Past approvals
₹37,952cr approved for previous rabi season
For the previous rabi season of 2025-26, the government had approved a subsidy requirement of around ₹37,952 crore.
The Cabinet later approved about ₹41,534 crore for the kharif 2026 season.
The government's fertilizer subsidy program covers essential agricultural inputs used in growing crops such as wheat, pulses, and oilseeds.
Credit support
Cabinet nod for ₹5,000cr MUDRA credit guarantee fund
In another major decision, the Cabinet approved a ₹5,000-crore credit guarantee fund under the Pradhan Mantri MUDRA Yojana.
The scheme was launched in April 2015 to provide institutional credit to small businesses and microenterprises through banks and other eligible lending institutions.
The existing Credit Guarantee Fund for Micro Units protects eligible lenders against defaults on covered microenterprise loans.
Cultural project
Cabinet approves ₹3,230cr for Yuge Yugeen Bharat Museum
The Cabinet also approved ₹3,230 crore for the development of the Yuge Yugeen Bharat Museum by converting the historic North and South Blocks in New Delhi.
Vaishnaw said the museum would showcase India's civilizational journey and would be bigger than Paris's Louvre.
The proposed museum will span some 1.79 lakh square meters and is designed to accommodate nearly 30,000 visitors daily.