Fertiliser stocks were seeing buying on January 15 after a report said that the government was looking to revamp the subsidy system.
The finance ministry was considering direct payment of subsidy to farmers in advance. The fertiliser ministry will use PM-KISAN beneficiaries to disburse the advances, CNBC-TV18 quoted NewsWire as saying.
The government is planning to de-control urea prices, which could push up the price of a 45-kg bag to Rs 400-445 from Rs 242.This financial year fertiliser the subsidy is likely to touch Rs 1.1 lakh crore.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.