Union Cabinet today accorded approval for revising the benchmark prices for Nutrient Based Subsidy (NBS) for fertilizers for the year 2011-12 .These fertilizers are Phosphatic and Potassic fertilizers.According to an official press release this will enable the manufacturers and importers to import the fertilizers and fertilizer inputs and undertake domestic production.A budgetary provision for subsidy of these fertilizers for the current fiscal is 33,500 crore rupees. However, the total subsidy outgo will depend on the overall sale of these fertilizers in 2011-12.