PM PRANAM-Features and Objectives of This Scheme

Recently, Finance Minister Nirmala Sitharaman announced in her Budget speech that the government will launch a new scheme PM PRANAM to encourage states and Union Territories to promote alternative fertilizers and balanced use of chemical fertilizers in agriculture.

On 7 September 2022, the PM PRANAM scheme was first presented by the government during the National Conference on Agriculture for Rabi Campaign. PM PRANAM’s full form is PM Promotion of Alternate Nutrients for Agriculture Management Yojana.

Features of PM PRANAM Scheme

• The scheme’s objective is to encourage farmers to reduce the total consumption of fertilizers by boosting the states by creating a proper environment.

• It aims to reduce total expenditure on chemical fertilizers, which is expected to increase to Rs 2.25 lakh crore in 2022-2023.

• The savings of existing fertilizer subsidies are to be utilized for financing this scheme run by the Department of Fertilizers.

• 50% of the subsidy savings will be passed to the state as a grant and 70% of such funds granted to the state can be utilized for the purpose of capacity expansion in the area of creating alternative fertilizers.

• The remaining 30% of grant money can be used for encouraging farmers, panchayats, farmer-producer organizations, and self-help groups that are involved in the awareness of the reduction of fertilizer.

• The government will check the total use of fertilizers in terms of increase or decrease in overall consumption in a year as well as in the last three years.

• Integrated Fertilizers Management System, a platform is envisioned with the intention of tracking the use of fertilizers.

The objective of the PM-PRANAM Scheme

• There has been a sudden rise in the fertilizer subsidy in the last 5 years, which has eventually increased government expenditure.

• Out of all fertilizers used the consumption of four fertilizers named Urea, DI-ammonium phosphate, muriate of potash, and NPKS increased by 21% between 2017-2018 and 2021-22 from 528.86 LMT-640.27 LMT.

• The government had allocated Rs 79,530 crore, which increased to Rs 1.40 lakh crore in the revised estimates in the Union Budget 2021-22.

• The government has allocated Rs 1.05 lakh crore in the current financial year 2022-23, but the fertilizer minister has stated that the fertilizer subsidy figure could cross Rs 2.25 lakh crore this year

Also Read:

Kisan Pushkar Scheme-Loan Approved for Agricultural Drone Applications, Target to Sell 5,000 Drones Before March 31

Farmers Register For This Solar Agriculture Livelihood Scheme And Earn Some Extra Money Today!

Golden Opportunity- Farmers Can Obtain A Solar Pump, As A First Come, First Served Basis Scheme