Fertiliser min seeks low-cost loan for cos under subsidy strain

Dec 07 2012, 01:28 IST
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SummaryWith a pending subsidy bill of around Rs 40,000 crore since August, the fertiliser ministry has asked the finance ministry to make an interim arrangement for fertiliser firms to raise money from banks.

proposal would see companies raising loans from state-owned banks this year, too. As per the 2012-13 Budget subsidy allocation, the government had provided Rs 13,398 crore for imported urea, Rs 19,000 crore for indigenous (urea) fertilisers, and Rs 28,576 crore for the sale of decontrolled fertilisers (DAP, MOP and complexes) at a subsidised rate to farmers. The subsidy shortage is especially acute for phosphatic and potassic fertilisers.

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