The CCEA is likely to grant an extension for the policy on single super phosphate (SSP) nutrients, which is expiring on 30 June 2009.
The Union Minister for Chemicals & Fertilisers has reportedly sought an extension for the SSP policy.
The policy, announced by the Union Government in April 2008, provides for a substantial increase in the subsidy on SSP. Manufacturers are eligible for a maximum subsidy of Rs 5,630 per tonne of SSP fertiliser instead of Rs 1,125 per tonne offered earlier.
SSP is mainly used in crops like oilseed, pulses, horticulture and sugarcane. Following the policy announcement, the use of SSP was estimated to save a subsidy of Rs 2,500 crore.
Source : ProjectsToday
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