GoI to launch PM-PRANAM Scheme to Reduce Usage of Chemical Fertilizers

GoI to launch PM-PRANAM Scheme to Reduce Usage of Chemical Fertilizers – The Union government plans to introduce a new scheme – PM PRANAM in order to reduce the use of chemical fertilisers by incentivising states. PM PRANAM stands for PM Promotion of Alternate Nutrients for Agriculture Management Yojana.

• The main purpose of this scheme is to reduce the subsidy burden on chemical fertilisers, which is expected to increase to Rs 2.25 lakh crore in 2022-2023, which is 39% higher than the previous year’s figure of Rs 1.62 lakh crore.

What is the PM PRANAM scheme?

• PM PRANAM scheme will not have a separate budget.
• It will be funded by the “savings of existing fertiliser subsidy” under schemes run by the Department of fertilisers.
• Under the scheme, 70% of the grant will be used for asset creation related to the technological adoption of alternate fertilisers and alternate fertiliser production units at the village, block and district levels.
• The rest of the grant will be used for incentivising farmers, panchayats, farmer producer organisations and self-help groups.

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