Cabinet approves PM-PRANAM to incentivise states to promote alternative fertilisers

New Delhi: The Cabinet on Wednesday approved a new scheme PM-PRANAM to incentivise states to promote alternative fertilisers and reduce the use of chemical fertilisers. The scheme PM-PRANAM (PM Programme for Restoration, Awareness, Generation, Nourishment and Amelioration of Mother Earth) was announced by Finance Minister Nirmala Sitharaman on February 1 as part of the Budget for 2023-24.

Centre will incentivise states that promote alternative fertilisers

"Under the scheme, the Centre will incentivise states, which will promote alternative fertilisers and reduce chemical fertilisers," Fertiliser Minister Mansukh Mandaviya told reporters after the cabinet meeting.

Citing example, suppose a state is using 10 lakh tonne of conventional fertiliser, and if it reduces its consumption by 3 lakh tonne, then the subsidy saving would be Rs 3,000 crore. Out of that subsidy savings, the Centre will give 50 per cent of it -- Rs 1,500 crore to the state for promoting the use of alternative fertiliser and other development works, he added.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)