New Delhi: India is seeking Rs80-100 billion rupees ($1.75 billion to $2.18 billion) in additional subsidies for financial year ending in March and is likely to decontrol urea pricing in the year, fertiliser secretary Sutanu Behuria told reporters.
Urea contains 46% nitrogen and it is extensively used as fertiliser in India.
Behuria said the government is looking at de-canalization of urea imports, a shift away from the current policy, where only government-mandated agencies could import the nutrient.
“We are also looking at decontrol of urea prices....there can be informal understanding. It is to ensure that prices do not go up to levels that farmers can’t buy,” Behuria said on Monday.