Sept 04, Colombo: The Sri Lankan government has decided to increase the fertilizer subsidy given to farmers for the 2013/2014 Maha season by 15 percent over last season's amount.
The government has increased the fertilizer subsidy for the coming Maha season expecting that around 700,000 hectares of land will be cultivated for the Maha Season.
Ministry of Agriculture has estimated that 700 000 hectares will be farmed in the Maha season ad accordingly the Ministry of Finance and Planning has increased the amount of fertilizer given to the farmers for the next season.
The Finance and Planning has said that fertilizer stocks required for the additional subsidy have currently been stored and are available to supply to the stores. The government has allocated Rs. 40 billion for the subsidy.
Earlier the Farmers associations in Sri Lanka claimed that the government has slashed the fertilizer subsidy by 33 percent from the 90 kilos allocated per acre to 76 kilos per acre.
The annual expenditure for the government on fertilizer subsidy amounts to over Rs. 60 billion.