PM-PRANAM scheme

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About the PM-PRANAM scheme:

It aims to reduce the use of chemical fertilisers by incentivising the state.
Under the scheme, the states, which will adopt alternative fertilisers will be incentivised with the subsidy that is saved by reducing the use of chemical fertilisers.
The main objective of the scheme is to encourage the balanced use of fertilisers in conjunction with bio fertilisers and organic fertilisers.
Funding mechanism:
- It will not have a separate budget.
- It will be financed by the savings of existing fertiliser subsidies under schemes.
- Half of the subsidy savings will be passed on to the state that saves the money as a grant.
- Out of this grant, 70% can be used to create assets related to the technological adoption of alternate fertilisers and alternate fertiliser production units at the village block, and district levels.
- The remaining 30% of grant money can be used to reward and encourage farmers, panchayats, and other stakeholders involved in fertiliser reduction and awareness generation.
The government will evaluate the utilisation of fertilisers in terms of increase or decrease in overall consumption in a year vis-a-vis consumption over the past three years.
The Integrated Fertilisers Management System (iFMS) is the platform envisaged to track the use of fertilisers.

Q1) What are Fertilizers?

Fertilizers are substances or mixtures applied to soil or plants to provide essential nutrients that promote plant growth, improve crop yields, and enhance soil fertility. They are commonly used in agriculture and gardening to supplement nutrient deficiencies in the soil

Source: Biofertilizer scheme gets Cabinet nod; sugarcane FRP hiked