"Hope benefit of demonetisation trickles down to fertilisers industry"

While applauding the move of the demonetisation by the government, Ananth Kumar, Ministry of Chemicals and Fertilizers, hoped that the benefit of demonetisation will also trickle to fertilisers industry. The Minister stated this while inaugurating the annual seminar of Fertilizer Association of India (FAI) in Delhi yesterday.

Thanking the industry for extending the credit facility to the retailers and dealers of fertilisers after demonetisation, he said, “It will help the farmers to get fertiliser on credit.”

Fertiliser constitutes major input for agriculture. Therefore, government has taken many policy initiatives to make fertilisers industry as one of the fastest growing sector in India. As a result of these measures, the industry was able to achieve record production of urea during the financial year 2015-16.

Ananth Kumar called upon the fertiliser industry to work in tandem with government of India in the interest of farmers of the country to ensure food security. 

He added, “We are aware of long pending demands such as payment of balance (10 percent) subsidy, revision of fixed cost for indigenous urea industry and clearance of backlog subsidy of previous years. All efforts will be taken to solve them during this financial year.”