PM-PRANAM Scheme
On 28th June, 2023, the Union Cabinet approved a new scheme PM-PRANAM to incentivise states to promote alternative fertilisers and reduce the use of chemical fertilisers.
- Its objective is to alleviate the subsidy burden on chemical fertilizers, which is projected to rise to Rs 2.25 lakh crore in 2022-23, marking a 39% increase from the 2021 figure of Rs 1.62 lakh crore.
- There will be no separate budget allocated; instead, funding will be sourced from the "savings of existing fertilizer subsidy" under Department of Fertilizers schemes.
- 50% of the subsidy savings will be allocated as a grant to states demonstrating cost reduction.
- 70% of ....
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