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PM-PRANAM Scheme

IAS Current Affairs

PM-PRANAM Scheme

Source : The Hindu
GS II : Governance

Overview

  1. News in Brief
  2. What is PM-PRANAM Scheme?
Why in News ?

Cabinet Committee on Economic Affairs (CCEA) approved the PM-PRANAM (PM Programme for Restoration, Awareness, Generation, Nourishment and Amelioration of Mother Earth) scheme.

  • It was a promise made in the last Budget.

News in Brief

  • New scheme would promote use of nutrient-based, biofertilizers for sustainable agriculture and it would have a total outlay of ₹3,70,128.7 crore.
  • The CCEA also hiked the Fair and Remunerative Price (FRP) of sugarcane by ₹10 per quintal.
  • The FRP for the sugar season 2023-24 (October-September) will be ₹315 per quintal for a basic recovery rate of 10.25%. Last year, the amount was ₹305.
  • Centre would incentivise those States which would adopt alternative fertilizers with the subsidy that was saved by reducing the use of chemical fertilizers.
    • For instance, if the State reduced its usage of traditional fertilisers from 10 lakh tonnes per year to 3 lakh tonnes, it would save 3,000 crore in subsidies.
    • The Centre would provide the State 1,500 crore, or 50% of the subsidy savings, to encourage the adoption of alternative fertilisers and other development projects.

What is PM-PRANAM Scheme?

  • The PM Programme for Restoration, Awareness, Nourishment, and Amelioration of Mother Earth is also known as PM-PRANAM.
  • The Union government made its initial announcement of PM-PRANAM in the budget for 2023–24.
  • The programme encourages nations to employ alternative fertilisers in an effort to decrease the usage of chemical fertilisers.
  • The scheme will subsidies the burden on chemical fertilizers, which was around Rs 2.25 lakh crores in 2022-2023.
Features of the Scheme
  • Funding
    • The Ministry of Chemicals & Fertilisers’, Department of Fertilisers will use savings from existing fertiliser subsidies to pay for the
      Image by Jing from Pixabay

      programme.

    • The PM-PRANAM plan won’t have a distinct budget.
  • Aim
    • Promoting the usage of organic and biofertilizers will help advance sustainable farming methods.
    • As a result, the soil will be more fertile, environmental pollution will be decreased, and agricultural output will increase over time.
  • Subsidy
    • The states will get a payment equal to 50% of the subsidy savings from the centre.
    • 70% of the grant can be put to use in the creation of assets for the technical uptake of substitute fertilisers and industrial units at various scales.
    • Farmers, panchayats, and other stakeholders engaged in fertiliser reduction and awareness raising might be rewarded and encouraged with the remaining 30%.

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