NBS fertilisers unlike urea, whose maximum retail price (MRP) is fixed by the government are technically decontrolled. Under the NBS scheme, introduced in April 2010, their MRPs are supposed to be market-determined and set by the individual companies selling them.
Union government’s fertiliser subsidy bill is all set to go up by ~62 per cent or Rs 50,000 crore to Rs 1.3 lakh crore this fiscal compared with a budgeted Rs 79,530 crore, as per CRISIL.
This April, domestic non-urea fertiliser manufacturers undertook price hikes for di-ammonium phosphate (DAP) and other complex fertilisers because of an increase in raw material prices.