Centre to hike urea prices by 10 per cent

New Delhi: In a blow to the farmers, the price of urea which is used in fertilisers is set to go up by 10 per cent. The government has planned to reduce the subsidies.

A panel, led by Finance Minister Pranab Mukherjee, had last year approved a new draft urea policy, which proposed partial freeing of retail prices, allowing companies to hike urea prices by 10 per cent in the first year of policy implementation.

Urea is the only fertilizer that remains under the full price control.

A panel, led by Pranab Mukherjee, had last year approved a new draft urea policy, which proposed partial freeing of retail prices.

The proposed hike in urea prices is broadly in line with the Government’s move to reduce fertiliser subsidies.

(For updates you can share with your friends, follow IBNLive on Facebook, Twitter, Google+ and Pinterest)