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Current Affairs

Cabinet approves extension of New Urea Policy-2015

Date: 16 April 2019 Tags: Agriculture

Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister has approved extension of duration of New Urea Policy-2015 from April 1, 2019 till further orders. The extension of policy will facilitate in continuation of operations of urea plants and ensure regular supply of urea to the farmers.

Background

The comprehensive New Urea Policy-2015 was approved in 2015 for period of four financial years (till 2019). The policy is aimed at maximising indigenous urea production to reduce import dependency and to reduce subsidy burden on the government. It also aimed at promoting energy efficiency in urea units to reduce Carbon-footprint to make Urea production environment friendly. India had imported around 59.75 lakh tonnes of urea in 2017-18 fiscal year to meet domestic demand. Besides, annual domestic production of urea is around 250 lakh tonnes.