India Seeks Double Fertiliser Subsidy Amid Iran War
The Indian fertiliser ministry has requested a doubling of its budgeted subsidy fund for the current fiscal year to combat rising global prices and supply disruptions. The government is also supporting oil refiners to maintain pump prices while working to defend the currency against foreign fund outflows.
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India is seeking to double its budgeted fertilizer subsidy fund to address soaring global prices triggered by the conflict in Iran. The fertilizer ministry requested the increase just three months into the fiscal year as import costs for urea and diammonium phosphate (DAP) climb. New Delhi is also the world's third-largest oil importer and consumer, making it highly exposed to energy supply disruptions.
