Subsidy on Urea will continue for the next 3 years latest news update 2023
PM Pranam Yojana Center will encourage states for alternative fertilizers
Cabinet Committee on Economic Affairs decision
Latest Updated 29/06/2023: The Union Cabinet Committee on Economic Affairs has decided to continue the subsidy on urea for the next three years. This subsidy will be given from the financial year 2022-23 to 2024-25. A commitment has been made to spend Rs 3.68 lakh crore on this. After this announcement, farmers will continue to get 45 kg urea for Rs.242. This price is exclusive of taxes and neem coating charges.
3.68 lakh crore rupees will be spent on urea subsidy in three years
Farmers will continue to get 45 kg urea sack for 242 Rupees
The cabinet on Wednesday approved a new scheme PM-PRANAM to promote alternative fertilizers & encourage states to reduce the use of chemical fertilizers. In the budget of 2023-24, Finance Minister Nirmala Sitharaman had announced the implementation of the scheme for the restoration, awareness, creation, nutrition and improvement of the Earth. After the meeting, Fertilizer Minister Mansukh Mandaviya told that the Center will encourage the states to promote alternative fertilizers and reduce the use of chemical fertilizers. Said, if a state using 10 lakh tonnes of conventional fertilizer reduces its consumption by 3 lakh tonnes, then 3,000 crore subsidy will be saved. Out of this remaining subsidy, 50 i.e. Rs 1,500 crore will be given to that state for the use of alternative fertilizers and other development works. see P 19
Increase in minimum price for sugarcane farmers
The central govt has provide a big gift to the sugarcane farmers. The Union Cabinet meeting chaired by Prime Minister Narendra Modi has decided to increase the fair and remunerative price of sugarcane. The government has fixed the price at Rs 315 per quintal. After the meeting, Minister Anurag Thakur said that the FRP for the sugar year 2023 to 24 has been fixed at Rs 315 per quintal. In the last season, the minimum price of sugarcane was Rs 305. Anurag Thakur said that the Prime Minister is always with the Annadata.
1451 crore approved for generating wealth from waste
1451 crore has been sanctioned for the waste to wealth model. In this, measures will be taken to enrich the soil and keep the environment safe and clean by using cow dung, straw and organic manure.
The Union Government is committed to add sweetness to the lives of sugarcane farmers. Apart from this, schemes like PM-Pranam will benefit crores of farmers across the country.
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