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India is likely cut its annual fertiliser subsidy by 4 per cent to around Rs 70,000 crore in its Budget proposals for fiscal year 2015-16, two government sources with knowledge of the matter told Reuters.
India had earmarked a subsidy of Rs 72,970 crore for the current fiscal year ending March 31.
"There is no plan to increase fertiliser prices," one of the sources told Reuters.
He said the roadmap for reforms in the subsidy structure for the fertiliser sector would be unveiled after the Budget.
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