The finance minister has announced a fertilizer subsidy of Rs 65,000 crore to farmers. He said that 65,000 crore rupees are being given to the farmers to maintain adequate quantity of fertilizer
Finance Minister Nirmala Sitharaman on Thursday announced a Rs 65,000 crore fertilizer subsidy for farmers as part of a relief package to boost the economy. He said that 65,000 crore rupees are being given to the farmers to maintain adequate quantity of fertilizers during the upcoming crop season. He said that the fertilizer consumption in 2016-17 was 499 MT. It is expected to increase to 673 MT in 2020-21. 14 crore farmers will get benefit due to higher supply of fertilizer and subsidy.
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Sitharaman said that an additional provision of Rs 10,000 crore has been made for the Pradhan Mantri Garib Kalyan Rozgar Yojana (PM Garib Kalyan Rozgar Yojana) in the current fiscal year. Which will give a boost to the village economy. Sitharaman further said that Rs 3,000 crore will be given to EXIM Bank to promote exports through loan assistance. Exim Bank has extended the lines of credits- LOC under the Indian Development and Economic Assistance Scheme (IDEAS) scheme to help developing countries by the Government of India.
He said that 2.5 crore farmers have got loan incentives through Kisan Credit Card (KCC). Similarly, under the Pradhan Mantri Matri Sampada Yojana (PMMSY), proposals worth Rs 1,682.32 crore from 21 states were approved. He further informed that 26.62 lakh loan applications were received for self-employed funds for the street vendors, of which 13.78 lakh people have been sanctioned a total loan of Rs 1,373.33 crore.
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