Additional fertiliser subsidy to help farmers: Vikramjit Sahney

By: |
June 29, 2021 5:52 PM

Finance Minister Nirmala Sitharaman also stated that to improve farmers'' income and fight malnutrition, the Indian Council of Agricultural Research (ICAR) has developed bio-fortified crop varieties having nutrients like protein, iron, zinc, and vitamin A.

Sahney said that this was a positive development in the field of developing bio-fortified crops.Sahney said that this was a positive development in the field of developing bio-fortified crops.

The government’s decision to provide an additional amount of Rs 14,775 crores as fertilisers subsidy will help farmers and ensure that despite the increase in international prices of inputs, sale price to farmers is not increased, Chairman of BRICS Agri-Business Council Vikramjit Sahney said on Tuesday.

Together with the previously announced Rs 93,869 crore spending on providing free foodgrains to the poor till November and additional Rs 14,775 crore fertiliser subsidy, the stimulus package announced on Monday mostly made up of government guarantee to banks and microfinance institutions for loans they extend to COVID-hit sectors — totaled Rs 6.29 lakh crore.

Finance Minister Nirmala Sitharaman also stated that to improve farmers” income and fight malnutrition, the Indian Council of Agricultural Research (ICAR) has developed bio-fortified crop varieties having nutrients like protein, iron, zinc, and vitamin A.

Sahney said that this was a positive development in the field of developing bio-fortified crops.
Commenting on the stimulus package, Council of Leather Export (CLE) Chairman Sanjay Leekha said that the package will help in the growth of exports.

“The announcement on the proposal to infuse equity in ECGC over 5 years to boost export insurance cover by Rs 88,000 crore is a welcome step, as it will provide the much-needed risk coverage in the current pandemic situation,” Leekha added.

Do you know What is India expected to grow 10 pc during current fiscal: NCAER Director General Poonam Gupt,FinMin releases Rs 9,871 cr grant to 17 state, Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1RBI’s MPC meet: With all eyes on Omicron’s impact, status quo likely on key rates for now
2Indian economy shows strong signs of recovery, upswing in 19 of 22 economic indicators
3Led by urea, fertiliser subsidies to soar 62 pc this fiscal on rising input costs: Report