Reduce fertiliser subsidy, limit use of urea: Survey - The Hindu

The Economic Survey has called for reduction in subsidies for fertilisers and adoption of appropriate price incentives. Seeking to push for more private investment in the fertiliser industry to increase indigenous capacity through long-term availability of gas, the Survey said production of key fertilisers like urea, DAP and complex fertilisers has not been satisfactory this fiscal. "The over-use of nitrogenous and limited use of P and K fertilisers was a matter of great concern and needs appropriate price incentives by reducing fertiliser subsidies so that sustainable practises are encouraged," it states. It said fertiliser consumption had shown improvement as the policies for increasing availability and consumption of crop nutrients at affordable prices had been successful. Urea production is estimated at 22.38 million tonnes this fiscal against 21.98 million tonnes in 2011-12. The production of DAP and complex fertilisers is seen at 3.71 million tonnes and 7.94 million tonnes respectively in 2012-13. India produced 3.96 million tonnes and 7.70 million tonnes of DAP and complex fertilisers in the last fiscal. It said to counter the shortfall in fertiliser production, the government was banking on its New Investment Policy (NIP) 2012. Under the NIP, the government planned to encourage investments in urea, which would increase indigenous capacity and reduce dependency on imports. "It is expected that fresh investment will come for expansion, revival, and setting up of brownfield and greenfield projects," it said. India meets its entire requirement of muriate of potash (MoP), 90 per cent of di-ammonium phosphate (DAP) and 20 per cent of urea through imports. RELATED NEWS Subsidy should be slashed: Economic Survey Urgent farm reforms must to achieve growth, says Survey Economic Survey 2013: corporate debt declines Take more steps to curb gold imports: Economic Survey Clear regulatory hurdles: Survey Sensex jumps 137 points on growth outlook Fixing petroleum subsidy issue is key: Survey Reduce fertiliser subsidy, limit use of urea: Survey More In: Economy | Business via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNGeQ7RMKO7zQKEyhODT8FdTg93QiQ&url=http://www.thehindu.com/business/Economy/reduce-fertiliser-subsidy-limit-use-of-urea-survey/article4459277.ece

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