 "fertilizers")
The Cabinet on Wednesday approved a new scheme PM-PRANAM to incentivise states to promote alternative fertilisers and reduce the use of chemical fertilisers.
The scheme PM-PRANAM (PM Programme for Restoration, Awareness, Generation, Nourishment and Amelioration of Mother Earth) was announced by Finance Minister Nirmala Sitharaman on February 1 as part of the Budget for 2023-24.
"Under the scheme, the Centre will incentivise states, which will promote alternative fertilisers and reduce chemical fertilisers," Fertiliser Minister Mansukh Mandaviya told reporters after the cabinet meeting.
Citing example, suppose a state is using 10 lakh tonne of conventional fertiliser, and if it reduces its consumption by 3 lakh tonne, then the subsidy saving would be Rs 3,000 crore. Out of that subsidy savings, the Centre will give 50 per cent of it -- Rs 1,500 crore to the state for promoting the use of alternative fertiliser and other development works, he added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
