Centre introduces revolutionary package for farmers worth nearly Rs 4 lakh crore

With an aim to boost the well-being of farmers, rejuvenate soil productivity, ensure food security and environmental sustainability, the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi approved a package with a total outlay of Rs.3,70,128.7 crore. 1. An initiative of the package is that the sulphur-coated urea (Urea Gold) is being introduced in the country for the first time. It is more economical and efficient than the currently used Neem coated urea. It will address the sulphur deficiency in the soil in the country. It will also save input costs for the farmers and also raise incomes for farmers with enhanced production and productivity. 2. To ensure constant availability of urea to the farmers at the same price of Rs 242/ 45 kg bag excluding taxes and neam coating charges, the CCEA has approved the continuation of the urea subsidy scheme as Rs. 3,68,676.7 Crore committed for urea subsidy for 3 years (2022-23 to 2024-25). 3. Rs 1451 crore was approved for the Market Development Assistance (MDA) Scheme to exemplify the model of wealth from waste. Parali and organic manure from Gobardhan plants are to be used to enrich the soil and keep the environment safe and clean. 4. The centre has protected its farmers from a steep rise in fertilizer prices by increasing the fertilizer subsidy. In its endeavour to safeguard our farmers, the centre has increased the fertilizer subsidy from Rs. 73,067 Cr in 2014-15 to Rs. 2,54,799 Cr in 2022-23. 5. Eight nano urea plants with a production capacity of 44 crore bottles equalling 195 LMT of conventional urea will be commissioned by 2025-26. Nano fertilizer releases nutrients in a controlled manner contributing to higher nutrient use efficiency while costing less to the farmers. The application of nano urea has demonstrated an increase in crop yield. These schemes will help in the judicious use of chemical fertilizers, thereby reducing the input cost of cultivation for the farmers. Promoting organic farming, and alternate fertilizers like nano fertilizers and organic fertilizers will help in restoring the fertility of our mother earth. Read all the  Latest News ,  Trending News ,  Cricket News ,  Bollywood News , India News  and  Entertainment News  here. Follow us on  Facebook,  Twitter and  Instagram.