The government Monday decided to extend the duration of the New Urea Policy from April 1 this year till further orders to ensure smooth supply of nutrients to farmers.
"Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi has approved the proposal of the Department of fertilisers to extend the duration of New Urea Policy-2015 from April 1, 2019 till further orders, except for the provisions which stand already amended vide notification dated March 28, 2018," an official statement said.
The energy norms of urea plants were revised in March last year. The extension of the policy would facilitate in continuation of operations of urea plants and ensure regular supply of urea to the farmers.
In 2015, the Union Cabinet approved a comprehensive New Urea Policy-2015 for the next four financial years. The policy is aimed at maximising indigenous urea production and promoting energy efficiency in urea units to reduce the subsidy burden on the government.
India imported around 59.75 lakh tonnes of urea in 2017-18 fiscal year to meet the domestic demand. The country produces around 250 lakh tonnes of urea annually.