Centre to hike urea prices by 10%

In a blow to the farmers, the price of urea which is used in fertilisers is set to go up by 10%ent. The government has planned to reduce the subsidies.

A panel, led by Finance Minister Pranab Mukherjee, had last year approved a new draft urea policy, which proposed partial freeing of retail prices, allowing companies to hike urea prices by 10% in the first year of policy implementation.
Urea is the only fertilizer that remains under the full price control.
The proposed hike in urea prices is broadly in line with the Government’s move to reduce fertiliser subsidies.