New Delhi: The Cabinet on Wednesday approved a new scheme PM-PRANAM to incentivise states to promote alternative fertilizers, said Fertiliser Minister Mansukh Mandaviya.
Under the scheme financial assistance will be given to the states and the states will be able to strengthen the fertilizer system. The government also approved the continuation of the Urea Subsidy Scheme with an outlay of Rs. 3,68,676.7 Crore committed for the urea subsidy for 3 years.
In the next three years, the Modi government will be spending Rs 3 lakh 70 thousand crore for farmers’ welfare,” Mandaviyaa said at the press meeting after the Cabinet meeting.
It should be noted that in Budget 2023, Union Finance Minister Nirmala Sitharaman announced the launch of “PM Pranam Yojana” for the promotion of alternative fertilizers and balanced use of chemical fertilizers. Finance Minister in her speech said, “PM Programme for Restoration, Awareness, Nourishment and Amelioration of Mother Earth’ (PM Pranam) will be launched to incentivize States and Union Territories to promote alternative fertilizers and balanced use of chemical fertilizers.”
In a statement, the governemt said, the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi approved a unique package of innovative schemes for farmers with a total outlay of Rs 3,70,128.7 crore.
As per the statment apart from PM-PRANAM, the CCEA also approved the continuation of the Urea Subsidy Scheme to ensure constant availability of urea to the farmers at the same price of Rs 242 per 45 kg bag excluding taxes and neam coating charges. Out of the above-approved package, Rs. 3,68,676.7 crore have been committed for urea subsidy for three years (2022-23 to 2024-25).
This is apart from the recently approved Nutrient Based Subsidy of Rs 38,000 Crore for Kharif season for 2023-24. At present, the MRP of urea is Rs 242 per 45 kg bag of urea (exclusive of charges towards neem coating and taxes as applicable), whereas the actual cost of the bag comes to around Rs 2200, the statement said. The scheme is wholly financed by the Government of India through budgetary support.
Due to the ever-changing geopolitical situation and increased raw material prices, fertilizer prices have been increasing multifold globally over the years. But the government has protected its farmers from steep fertilizer price rises by increasing the fertilizer subsidy. In its endeavor to safeguard our farmers, the government has increased the Fertilizer subsidy from Rs 73,067 crore in 2014-15 to Rs. 2,54,799 crore in 2022-23, the statement said.
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