Source– The post is based on the article “FM Sitharaman announces PM PRANAM scheme to push states to promote alternative fertilisers” published in The Indian Express on 2nd February 2023.
What is the news?
The Finance Minister announced in the budget that the government will launch a new scheme called PM PRANAM.
What are some facts about the scheme?
It will incentivise states and union territories to promote alternative fertilisers and balanced use of chemical fertilisers. This will bring down the subsidy burden.
The subsidy is estimated to reach Rs 2.25 lakh crore in 2022-23. It is 39% higher than last year’s figure of Rs 1.62 lakh crore.