In order to reduce the use of chemical fertilisers by incentivising states, the Union government plans to introduce a new scheme called PM PRANAM.
Key features of the scheme-
- PM PRANAM stands for PM Promotion of Alternate Nutrients for Agriculture Management Yojana.
- The proposed scheme intends to reduce the subsidy burden on chemical fertilisers, which is expected to increase to Rs 2.25 lakh crore in 2022-2023, which is 39% higher than the previous year’s figure of Rs 1.62 lakh crore.
- The scheme will not have a separate budget and will be financed by the “savings of existing fertiliser subsidy” under schemes run by the Department of fertilisers.
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