People & Business :: Earnings/Finance
India cuts phosphate and potash subsidies
1:31 PM MDT | May 21, 2013
India is cutting subsidies on phosphate and potash fertilizers in the fiscal year that began on 1 April in an effort to reduce its fiscal deficit. The Indian government announced recently that the subsidy on diammonium phosphate (DAP) had been cut by 14% from the previous year, to 12,350 Indian rupees/m.t. ($226) for 2013–14 and by 22%, to Rs11,350/m.t. for potassium chloride (KCl). “According to the new rates, the total subsidy for potash and phosphate fertilizers for the financial year 2013–14 would be reduced by around 15%,” says...
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