India's fertiliser subsidy bill for 2026-27 is budgeted at ₹1.71 lakh crore — ₹1.17 lakh crore for urea alone, and ₹54,000 crore for nutrient-based support covering phosphates and potash. The revised estimate for 2025-26 had already overshot the budget at ₹1.86 lakh crore, driven by geopolitical supply disruptions from West Asia. CRISIL has projected a further 20–25% surge in FY27 if global shocks persist. This is India's second-largest subsidy expenditure, behind only food.

In February 2024, the Reserve Bank of India released its draft disclosure framework on climate-related financial risks. The framework covers four pillars — governance, strategy, risk management, and metrics and targets — mirroring TCFD and ISSB architecture. A staggered implementation timeline was built in, and the clock has started. As of FY 2025-26, Scheduled Commercial Banks, All India Financial Institutions, and Top and Upper Layer NBFCs are required to begin governance,