The Cabinet Committee on Economic Affairs (CCEA) approved the NBS rates for complex fertilisers for FY17. There is a sharp cut in subsidies for nitrogen (-24% YoY) and phosphorus (-29%). Potash subsidies are flat, whereas there is a 22% increase for sulphur (a micro-nutrient used in small quantity). The cut was expected owing to falling international prices of fertilisers and raw materials (refer to our report Make-or-break budget).