A major decision was taken on fertilizer subsidy in the Union Cabinet meeting.Image Credit source: File Photo
The government has given very good news to the farmers. A meeting of the Union Cabinet was held under the chairmanship of Prime Minister Narendra Modi on Wednesday, in which a major decision was taken regarding subsidy on fertilizers. The Cabinet Committee on Economic Affairs has announced to reduce the subsidy on fertilizers. After this, it has been clarified by the government that this will not affect the retail prices of fertilizers.
Chemicals and Fertilizers Minister Mansukh Mandaviya came in front of the media to inform about the decisions of the Union Cabinet. Union IT Minister Ashwini Vaishnav was also present with him. Mansukh Mandaviya assured the people that the prices of fertilizers will not increase in the Kharif season.
12 crore farmers will be benefited
In the Kharif season of 2023-24, the government will give a total subsidy of Rs 1.08 lakh crore on fertilizers. In this, a subsidy of about Rs 70,000 crore will be given for urea and Rs 38,000 crore for DAP and other fertilizers. Its direct benefit will be to 12 crore farmers cultivating Kharif.
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MRP of fertilizer will remain same as before
The Union Minister said that there will be no change in the MRP of fertilizers. At present, a sack of urea is available in the country for Rs.276. While the price of DAP is Rs 1,350 per bag.
The Kharif crop is grown from April to September. Paddy is mainly sown in this, for which farmers depend heavily on fertilizers. And the other main crop is oilseeds. Fertilizers are also needed for this.
Government reduced subsidy budget
Earlier it was reported that the Union Cabinet has cut the Nutrient Based Subsidy on Fertilizers by 35.36 percent. Due to this, it was estimated to cut the subsidy on everything from urea to potash, phosphate and sulphur. That’s why the government made it clear that there will be no impact on the retail price of fertilizers.
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PLI scheme will provide 2 lakh jobs
In the media briefing, Union Minister Ashwini Vaishnav informed about the approval of the second phase of PLI scheme for IT hardware. For this, the government will give an incentive of Rs 17,000 crore. This is expected to generate direct and indirect employment for 2 lakh people in the country. At the same time, the prices of laptops, tablets and computers are also likely to come down in the country.