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Ex post facto approval regarding Special Banking Arrangement for payment of outstanding subsidy to fertilizer companies during 2013-14
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....x post facto approval regarding Special Banking Arrangement for payment of outstanding subsidy to fertilizer companies during 2013-14 <br>News and Press Release<br>Dated:- 20-10-2014<br><BR>The Cabine....
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....t Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, approved ex post facto the implementation of the Special Banking Arrangement (SBA) for ₹ 14,500 crore for outs....
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....tanding claims on account of fertilizer subsidy in the year 2013-14. Government is making fertilizers namely Urea and 22 grades of Phosphatic and Potassic (P&K) fertilizer available to farmers at sub....
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....sidized prices through fertilizer manufacturers / importers. Subsidy to fertilizer companies is paid from funds allocated under regular budget estimates for each year. In order to meet carried over su....
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....bsidy liabilities and help fertilizer companies overcome their liquidity problems, due to delay in payment of subsidy, an SBA had been made during 2013-14 with a consortium of nationalized banks to av....
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....ail loans with the approval of the Ministry of Finance. The loan together with Government interest amounting to ₹ 169.33 crore has been repaid from Budget Estimates for 2014-15, within the sanc....
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....tioned budget under the Vote on Account.<BR> News - Press release - PIB....