Fertilizer Subsidy Worth Rs 1.08 lakh Crore Sanctioned for Kharif Season

Rozana Spokesman

News, Nation

Union Health Minister Mansukh Mandaviya shared info after the Cabinet meeting

Union Ministers Mansukh Mandaviya and Ashwini Vaishnaw

NEW-DELHI: Farmers have received a big gift from the Modi Government. The Central Government has approved a fertilizer subsidy of Rs 1.08 lakh crore for the Kharif season. Union Health Minister Mansukh Mandaviya shared this information after the Cabinet meeting.

The Cabinet meeting chaired by Prime Minister Narendra Modi approved the proposal to give subsidy of Rs 70,000 crore on urea and Rs 38,000 crore on DAP and other fertilizers for the kharif season. Thus, the worth of total fertilizer subsidy for the kharif season has increased to Rs 1.08 lakh crore. The Union Cabinet in its meeting has approved the proposal to give Rs 38,000 crore subsidy to farmers on phosphate and potash (P&K) fertilizers for the 2023-24 monsoon season. The fall in international prices of P&K fertilizers in the last few months has reduced the subsidy burden. With this, the fertilizer subsidy can go up to Rs 2.25 lakh crore in the entire financial year of 2023-24.

Briefing reporters about the decision taken in the cabinet, Mandaviya said that the cabinet has decided to give subsidy of Rs 76 per kg for nitrogen, Rs 41 per kg for phosphorus, Rs 15 per kg for potash and Rs 2.8 per kg for sulphur. The proposal has been approved. Mansukh Mandavia while informing the decision of the cabinet said that 325 to 350 lakh metric tons of urea is used in the country. 100 to 125 lakh metric tonnes of DAP and NPK are used. 50-60 lakh metric tonnes of MOP is used. The Modi government has increased the subsidy so that the farmers can get fertilizer on time and the MRP does not increase. For kharif crops, the government has decided that the GOI will not increase the price of fertilizers. Government of India will spend Rs 1 lakh 8 thousand crore as subsidy for kharif season crop.

With this, the Union government on Wednesday also approved the second installment of the Production Linked Incentive Scheme for IT hardware with a total budget outlay of Rs 17,000 crore. This will include IT Hardware PLI Under scheme-2, laptops, tablets, personal computers equipped with all the equipment (all in one PC), servers etc. Union Information Technology and Telecommunication Minister Ashwini Vaishnav told reporters after the Cabinet meeting, "The Cabinet chaired by Prime Minister Narendra Modi has approved the PLI scheme for IT hardware with a budget outlay of Rs 17,000 crore. The duration of this program is 6 years." The Union Minister also said that this incentive scheme is expected to generate Rs 3.35 lakh crore and investment of Rs 2,430 crore. This is expected to provide direct employment to about 75,000 people.