Santosh Sreedhar, Partner at Avalon Consulting, discusses the expectations of the fertilizer industry from the Union Budget 2024. He notes that while the industry does not anticipate a higher subsidy allocation, it is looking forward to smoother and faster subsidy flows. Sreedhar highlights the importance of the Direct Benefit Transfer (DBT) program, which would alleviate the working capital burden on the industry. He also mentions the potential promotion of nano-fertilizers and the use of drones for their application, which could help reduce the subsidy bill. Additionally, Sreedhar emphasizes the need for initiatives that support rural employment, agri-processing, and marketing to spur the rural economy and increase the use of agricultural inputs, including fertilizers.
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