India is going to get cheap fertilizer!!!
The Russia-Ukraine war has increased the concern of the whole world with India. Today the whole world is feeling the shortage of essential things. oil prices are on fire. But, despite pressure from all the big countries of the world, india is continuously buying oil from russia at cheap prices. Now there is another relief news for India. After oil, india has made a big agreement with russia in the field of fertilizer. This agreement is for a long period. india will now import fertilizers from Russia.
India is a major importer of fertilizers. At present, there is a huge increase in the prices of fertilizers. The sowing of Kharif crops will start as soon as the monsoon arrives. In such a situation, this agreement is going to give relief to India. Keep in mind that the contribution of agriculture to the country's economy is about 15 percent.
The impact of the Russo-Ukraine war has also affected the prices of fertilizers. India's agreement with russia is a relief. india is going to get this fertilizer at a discounted rate.
The happiest thing is that this deal is going to happen under the barter system (barter system). Significantly, due to US sanctions, trade with russia cannot be done in dollars. In exchange for fertilizer, india will give goods of the same price to Russia. india will supply tea, raw material for industries, and auto parts.
Significantly, in view of the increase in the prices of fertilizers, the Modi government on May 21 had announced a further subsidy of 1.10 lakh crore. The government wants to give relief to the farmers from rising inflation. After this announcement, the government's fertilizer subsidy reached Rs 2.15 lakh crore.
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