 "Nano DAP to bring down fertiliser subsidy bills, says industry body")
The Southern India Chamber of Commerce and Industry (SICCI) stated on Thursday that the interim Budget's initiatives to promote new-age technology products in agriculture, such as Nano Di-ammonium Phosphate (DAP), are expected to reduce fertiliser subsidy expenses and enhance the agricultural economy.
Finance Minister Nirmala Sitharaman announced the expansion of the Nano DAP application across various crops in all agro-climatic zones on Thursday. Arun Alagappan, president of SICCI and executive vice chairman of Coromandel International Limited, a Murugappa Group company, expressed support for the budget proposals. These proposals aim to spur growth in sectors including infrastructure, the blue economy, agriculture, aerospace, defence, and green energy.
Alagappan highlighted the government's dedication to agriculture, noting the budget's focus on encouraging public and private investments in post-harvest activities. These activities include aggregation, modern storage, supply chains, primary and secondary processing, marketing, and branding. He emphasised that introducing new-age technology products in agriculture, such as Nano-DAP, is crucial for reducing fertiliser subsidy costs and boosting the agricultural economy. DAP is a widely utilised fertiliser in India, and Nano-DAP contains 8 per cent nitrogen and 16 per cent phosphorus.
Additionally, SICCI praised the emphasis on rooftop solar initiatives as a significant step towards India's renewable energy transition. The goal to equip 10 million households with up to 300 units of electricity monthly through rooftop solarisation was particularly lauded. The industry body also supported proposals to promote climate-resilient activities for the blue economy 2.0. This initiative encompasses restoration and adaptation measures, alongside coastal aquaculture and mariculture within an integrated approach. Furthermore, SICCI acknowledged the appropriate prioritisation of the infrastructure programme under the PM Gati Shakti programme.