CCEA approves concession scheme on fertilisers

New Delhi, June 26 (ANI): The Cabinet Committee on Economic Affairs (CCEA) today approved the proposal of the Department of Fertilizers (DOF) relating to the concession scheme on de-controlled Phosphatic and Potassic (P and K) fertilizers.

The concession scheme on P and K fertilizers which was last approved by CCEA up to March 31 included DAP, MOP, MAP and eleven grades of complex fertilizers.

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The present proposal based on a fresh cost price study conducted by tariff commission and long term approach suggested by the expert group, chaired by Prof. Abhijit Sen on Phosphatic Fertilizers provides a mandate for continuing with the Concession scheme with effect from April 1 based on a revised framework.

The concession scheme is substantially based on the recommendations of the tariff commission. It provides a realistic framework for computing input cost, conversion and handling and will encourage the P and K fertilizer industry to meet the long term needs of the agriculture sector. (ANI)