Q. Consider the following statements regarding the Nutrient-Based Subsidy (NBS) scheme in India:
1.It was introduced to provide subsidies on fertilizers based on their nutrient content (N, P, K, and S) rather than on a product-specific basis.
2.It aims to promote the balanced use of essential nutrients.
3.Under the Nutrient-Based Subsidy (NBS) Scheme, the government provides a fixed subsidy, revised annually or biannually, on Phosphatic and Potassic (P&K) fertilizers, including DAP.
How many of the above statements are correct?
Explanation: All are correct
Statement 1 is correct: The Nutrient-Based Subsidy (NBS) scheme was introduced in April 2010 by the Government of India to provide subsidies on fertilizers based on their nutrient content (N, P, K, and S) rather than on a product-specific basis, aiming to encourage balanced use of fertilizers.
Statement 2 is correct: The Nutrient-Based Subsidy (NBS) Scheme of the Ministry of Chemicals and Fertilizers aims to promote the balanced use of essential nutrients, such as nitrogen, phosphorus, potassium, and sulphur, thereby helping farmers avoid over-dependence on any single fertilizer and maintain soil health while improving productivity.
Statement 3 is correct: Under the Nutrient-Based Subsidy (NBS) Scheme, the government provides a fixed subsidy, revised annually or biannually, on Phosphatic and Potassic (P&K) fertilizers, including DAP. The subsidy amount is linked to the nutrient composition of each fertilizer grade.
Source: PIB
