KUALA LUMPUR, Feb 4 DAP’s Tony Pua acknowledged receipt of his summons to Bukit Aman for questioning over his comments in relation to the Pardons Board’s recent decision to.
The Finance Ministry has allocated Rs 1.64 lakh crore for fertiliser subsidy in the upcoming financial year, which is 13% lower than the revised estimate for FY24. The Union Budget for FY24 had allotted around Rs 1.75 lakh crore towards fertiliser subsidy. Fertiliser subsidies account for approximately one-ninth of India s total budget expenditure. The subsidy burden rose in the previous financial year due to skyrocketing global prices.
For importers of P&K fertilisers, including di-ammonium phosphate (DAP) and Muriate of Potash (MoP), the profit margin allowed is 8 per cent. It has permitted 10 per cent profit for manufacturers and 12 per cent for integrated manufacturers. Unreasonable profit earned by the company will have to be refunded, or else it will be recovered by the ministry or adjusted with the future subsidy payment, as per the guidelines.