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Cabinet okays ₹3.69L crore for 3-yr fertiliser subsidy schemes
Hindustan Times
|June 29, 2023
The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday earmarked ₹3.69 lakh crore for urea subsidy for three years (2022-23 to 2024-25), the first time the government has provisioned money in advance for discounts on a fertiliser product, and also cleared three other schemes aimed at promoting natural farming and trimming the consumption of agricultural chemicals.
The Cabinet approved a total package of schemes for farmers worth ₹3.70 lakh crore. Union fertilisers and chemicals minister Mansukh Mandaviya said the Cabinet approved the launch of PM-Pranam, a scheme to hand out cash incentives to states that can cut their consumption of chemical soil nutrients.
PM-Pranam was announced by finance minister Nirmala Si man in her 2023-24 Budget speech in February, and is part of a broader policy push to limit fertiliser subsidies, and promote natural and organic farming.
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