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Shares of nine fertiliser companies rose by 1.67% to 6.62% after the government on Wednesday increased its share of subsidy for di-ammonia phosphate (DAP) fertiliser by 140% from Rs 500 to Rs 1,200 per bag.National Fertilizers (up 6.62%), Rashtriya Chemicals & Fertilizers (up 5.81%), Fertilizers & Chemicals Travancore (up 5.61%), Deepak Fertilisers & Petrochemicals (up 4.88%), Coromandel International (up 3.65%), Gujarat State Fertilizers & Chemicals (up 3.52%), Chambal Fertilisers & Chemicals (up 3.14%) and GNFC (up 1.67%) advanced.
The government has decided to increase the subsidy for DAP fertiliser from Rs. 500 per bag to Rs. 1200 per bag, which is an increase of 140%. Thus, despite the rise in international market prices of DAP, it has been decided to continue selling it at the older price of Rs 1200 and the central government has decided to bear all the burden of price hike.
Parshottam Rupala seeks suggestions on revamping administrative structure of cooperatives
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Last Updated: May 11, 2021, 08:59 PM IST
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KRIBHCO Chairman and former President of NCUI Chandra Pal Singh Yadav said a separate ministry or department for cooperatives is necessary so as to avoid overlapping, and also streamline the functioning of cooperative organisations all over the country.
The cooperatives have a big role in creating a self-reliant India but there are many issues that require urgent attention, NCUI quoted him as saying in a statement on Tuesday.
Union Minister Parshottam Rupala has invited suggestions from stakeholders for revamping the administrative structure for cooperatives, according to a release issued by the National Cooperative Union of India (NCUI). The Minister of State for Agriculture was addressing a webinar on setting up a separate administrative structure for cooperatives , organised by NCUI.