Which of the following statements regarding Nutrient Based Subsidy NBS Scheme is are incorrect The s...........

Rajasthan Economy

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Which of the following statements regarding Nutrient Based Subsidy (NBS) Scheme is/are incorrect?

The scheme is administered by the Department of Fertilizers under the Ministry of Chemicals & Fertilizers.
Under NBS, a fixed amount of subsidy is decided on an annual basis which is provided on each grade of subsidized fertilizers depending on its nutrient content.

1 only

2 only

Both

None

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Explanation:

The Nutrient Based Subsidy (NBS) Scheme:

It has been implemented from April 2010.

The scheme is administered by the Department of Fertilizers under the Ministry of Chemicals & Fertilizers.

Under NBS, a fixed amount of subsidy decided on an annual basis, is provided on each grade of subsidized Phosphatic & Potassic (P&K) fertilizers depending on its nutrient content.

It aims at ensuring the balanced use of fertilizers, improving agricultural productivity, promoting the growth of the indigenous fertilizers industry and also reducing the burden of Subsidy.