Centre to Launch PM PRANAM Scheme to Reduce Chemical Fertilizer Subsidy Burden

New Delhi: Centre is expected to launch an Agriculture Management Yojana or PM PRANAM by the end of June to promote the balanced use of fertilisers along with bio-fertilisers.

This scheme aims to reduce the subsidy burden on chemical fertilisers, which is estimated to reach Rs 2.25 lakh crore in 2022-23.

This scheme was announced by Finance Minister Nirmala Sitharaman in the budget for 2023-24. It is likely to be approved by the Union cabinet after PM Modi’s return from the US and Egypt visit on June 25.

This scheme will be financed through the funds saved from the ongoing fertiliser subsidy under various schemes of the chemical and fertilisers ministry.

Around 70 per cent of the grant provided under the scheme would be used for asset creation related to the technological adoption of alternate fertilisers and alternate fertiliser production units at the village, block and district levels.

The remaining 30 per cent would be used for rewarding and encouraging farmers and other village bodies involved in reducing the use of chemical fertilisers.