• UGI USER
  • Feb 03, 2024
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FERTILIZER SUBSIDY DECLINE

Why in the News?

  • The Centre reduces fertilizer subsidies, citing improved conditions in Ukraine and higher domestic production.
  • The Fertilizer Department’s allocation for the Budget is ₹1,64,150.81 crore, down from ₹1,75,148.48 crore in the previous year.
Source: IE

Key Highlights:

  • Food subsidy allocation rises, including ₹2,05,250 crore for PM-GKAY and ₹1 lakh crore for Sugar Subsidy under the Public Distribution System.
  • Last year’s food subsidy was ₹1,97,350 crore, with actual expenditure in 2022-23 reaching ₹2,72,802.38 crore.
  • Finance Minister announces expansion of Nano DAP application for crops and emphasizes free ration distribution for 80 crore people, addressing food security concerns amid the pandemic.
About

 PM-Garib Kalyan Anna Yojana (PM-GKAY):

·    PM-GKAY is a food security scheme providing additional ration to eligible beneficiaries during crises like the COVID-19 pandemic.

·    Introduced in 2020 amid the COVID-19 pandemic to provide 5kg free foodgrains to eligible NFSA 2013 ration card holders.

·    Initially scheduled to expire in December 2022, extended to December 2023, and recently granted a further five-year extension.

Nano Di Ammonium Phosphate (Nano DAP):

·    Nano-DAP, a concentrated phosphate fertilizer, offers phosphorous nutrition throughout the crop growth cycle.

·    Manufactured jointly by IFFCO and Coromandel, it ensures comprehensive phosphorous support during crop development.