Tuesday, 9 March 2021

19 thousand crores was paid Urea-making companies



fertilizer subsidy

Modi government is making every effort to revive the areas facing economic challenges due to this corona crisis. In this difficult time, there is good news for fertilizer, footwear, furniture and textile companies. In fact, the central government is expected to pay the entire dues of fertilizer subsidy to fertilizer companies by the end of March 2021. For the time being, let us know that 86 percent subsidy has been paid to fertilizer companies till now.



19 thousand crores was paid in February 2021

Fertilizer subsidy payments to fertilizer companies have increased significantly. In February 2021, companies have been paid a subsidy of Rs 19,000 crore. According to the data and information in March 2021, there is a preparation to pay subsidy of about 21,000 crore rupees. So far 86% of the total allocation has been paid in the financial year. Out of the 136 crore rupees of subsidy, about 117 crore rupees have been paid. Urea-making companies received the maximum 75 percent subsidy. High subsidy companies include RCF, Chambal Fertilizer, Zuari Global, Coromandel, UPL and IFFCO.


farming

The central government can also provide a major relief to the footwear, furniture and textiles sector. The GST Council meeting is expected to provide relief in goods and services tax to companies associated with these three industries. Now the government's is planning to emphasize on improving the inverted duty structure. Heavy GST on raw materials is causing problems in the business. Footwear raw materials attract a GST of 12 per cent to 18 per cent. Currently, there is an around 5 percent GST on footwear under 1000. The government can give relief in this.

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