The Union Cabinet has approved  Nutrient Based Subsidy rates for Phosphatic and Potassic, P&K  fertilizers for Rabi season 2022-23. The new rate will be effective from 1st of last month to 31st of March next year. The Cabinet chaired by Prime Minister Narendra Modi approved a  subsidy of  51 thousand 875 crore rupees for fertilizers. This will enable smooth availability of P&K fertilizers to the farmers during Rabi season 2022-23 at subsidized prices. The decision will help  the agriculture sector.  The volatility in the international prices of fertilizers and raw materials has been primarily absorbed by the Union Government.<br />''<br />'' The Cabinet was also apprised of a Memorandum of Understanding signed between  India and Denmark on cooperation in the field of Water Resources Development and Management. <br />''<br />''<br />