The Union Cabinet was likely to consider the PM PRANAM scheme or Promotion of Alternate Nutrients for Agriculture Management Yojana for the fertiliser sector in its Wednesday meeting, as per CNBC-Awaaz sources. However, the matter wasn't taken up for discussion.
The PM Pranam scheme aims at promoting alternate nutrients for agri management. According to CNBC-Awaaz sources, the government is looking at reducing chemical fertiliser subsidies under the PM Pranam scheme.
The main objective of the scheme is to encourage the balanced use of fertilisers in conjunction with bio fertilisers and organic fertilisers. The PM Pranam scheme also focuses on reduced subsidies in states. As per the initiative, states will get 50 percent of that of subsidy savings as a grant. The savings in subsidy will be used on new technology in the fertiliser sector.
Moreover, as per the report, 70 percent of the grant provided under the scheme is likely to be used for asset creation related to the technological adoption of alternate fertilisers and alternate fertiliser production units at the village, block, and district levels.
The remaining 30 percent of grant money can be used for rewarding and encouraging farmers, panchayats, farmer producer organisations, and self-help groups that are involved in the reduction of fertiliser use and awareness generation.
Earlier, Finance Minister Nirmala Sitharaman had announced the PM Pranam scheme in the budget-breaking. The scheme will have no separate budget and will be financed through the “savings of existing fertiliser subsidy” under schemes run by the Department of Fertilisers.
First Published: Jun 14, 2023 10:50 AM IST
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