New Delhi, March 31 (IANS) To boost the indigenous production of urea, the Union Cabinet on Friday approved the amendment to the New Urea Policy -2015 relating to the production beyond Re-Assessed Capacity (RAC), said a cabinet communique.
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, approved the amendments here, it said.
“The said amendment will protect the production beyond RAC by the urea units and is expected to boost indigenous urea production in the country,” it added.
With the approval, the ceiling imposed on production beyond the RAC during the year 2016-17, has been raised to enable all urea unit to go in for additional production which otherwise they were not able to do due to low import parity price.
“All stakeholders namely farmers, urea manufacturers and the Government would be benefited from the amendment,” the communique said.