Fertiliser stocks surged after the Union Cabinet of India, chaired by Prime Minister Narendra Modi, approved increased nutrient-based subsidy rates for the Kharif 2026 season. The government has set aside a budget of ₹41,533 crore (approximately $5 billion USD), which is an increase from the ₹37,216 crore allocated for Kharif 2025. This subsidy will be effective from April 1, 2026, to September 30, 2026, and will cover essential fertilisers such as DAP (Diammonium Phosphate) and NPK (Nitrogen, Phosphorus, and Potassium) grades. Following the announcement, various fertiliser companies saw a significant uptick in their stock prices, with Fertilisers and Chemicals Travancore rising by 4.90% and Rashtriya Chemicals and Fertilizers increasing by 3.19%. The government's move aims to ensure a stable and affordable supply of key nutrients to farmers amid ongoing volatility in global fertiliser prices.