By IANS,
New Delhi: The Cabinet Committee on Economic Affairs Thursday approved revised rates of concession for two grades of complex fertilizers produced and sold by state-run Rashtriya Chemicals and Fertilizers (RCF).
An official statement said due to the revision of rates, there is an estimated financial implication of Rs.15.95 crore for the government.
The revision is a one-time dispensation and will be implemented retrospectively applicable for the period July 1, 2005, to March 31, 2008.
The move is applicable for two grades 15-15-15 and 20-20-20.
Revision in the rates of concession would cover the under recovery incurred by RCF and would enable it to sustain its operation and make fertilizer available in the country, the statement said.