Union Minister - Indian Govt. Allocates Over Rs 1 Lakh Cr in 9 Budgets for Farmer Fertilizer Subsidy

Recently G Kishan Reddy, Minister of Tourism, Culture, and Development of the North Eastern Region on 10th June 2023, Hyderabad spoke about central government plans focused on various farming programs that would safeguard agriculture and improve farmers' s livelihoods.

According to a statement by Union Minister, "The Indian government has allocated over Rs 1 Lakh crores in the past 9 budgets to provide fertilizer subsidies. This initiative aims to protect farmers from the volatile market prices of Urea and NPK fertilizers. The government's substantial investment in this sector reflects its commitment to ensuring the stability and well-being of agricultural communities. By providing financial support for fertilizers, the government seeks to shield farmers from the uncertainties of market fluctuations, ultimately bolstering their livelihoods."

Additionally, he told "To enhance the agriculture sector several programs have been implemented and thereby adopted by farmers. There has been rapid application of fertilizers and farmers do purchase them frequently."

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In addition to the previous statement, the Union Minister highlighted that the central government, during the pandemic and the ongoing Russia-Ukraine conflict, refrained from raising fertilizer prices to support farmers.

He further told, Despite the international increase in Urea prices due to the impact of COVID-19 and the geopolitical situation, the government assumed full responsibility and ensured that the prices of fertilizers remained stable. Currently, the market price of a bag of Urea is Rs 2,503, but it is made available to farmers at a subsidized rate of Rs 267. Consequently, the central government bears a subsidy of Rs 2,236 per bag. This support is essential for farmers as they require four bags each of Urea and DAP (Di-Ammonium Phosphate) for cultivating two crops on one acre of land. By shouldering this subsidy burden, the government demonstrates its commitment to assisting farmers in achieving their agricultural goals.

Focusing on the upliftment of the farming sector he said that under PM Kisan Yojana farmers can access and purchase required materials given an amount of Rs 6000.

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He told that " The central government provides substantial subsidies to farmers, regardless of their landholding size. In one year, each farmer receives over Rs 18,000 in subsidies. Additionally, through the PM Kisan Yojana, farmers receive an additional Rs 6,000, specifically aimed at supporting the purchase of fertilizers, seeds, and pesticides for their farming needs. When combined, the total annual benefit per farmer from the Indian government amounts to Rs 24,612. Farmers who own 10 acres of land receive approximately Rs 1,92,120 per year. It is worth noting that over 60% of the population depends on farming as their primary occupation."

-ANI

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