Finance Minister Nirmala Sitharaman announces ₹ 65,000-cr fertilizer subsidy for farmers

Nirmala Sitharaman said an additional outlay of ₹ 10,000 crore will be provided for PM Garib Kalyan Rozgar Yojana in the current financial year

Finance Minister Nirmala Sitharaman on November 12 announced a ₹ 65,000-crore fertilizer subsidy for farmers as part of her stimulus package to boost the economy.

Also read: FM announces 12 schemes to boost economy

She said ₹ 65,000 crore is being provided to ensure adequate availability of fertilizers to farmers and to enable timely accessibility of fertilizers in the upcoming crop season.

She said an additional outlay of ₹ 10,000 crore will be provided for PM Garib Kalyan Rozgar Yojana in the current financial year.

This, she said, will accelerate growth of the rural economy.

Also read: Govt. working on short, medium-term measures to control price rise: Finance Minister

Ms. Sitharaman further said, ₹ 3,000 crore will be released to EXIM Bank for promotion of ‘Project Exports’ through lines of credits.

EXIM Bank extends lines of credits (LOC) on behalf of the government of India as assistance to developing countries under Indian Development and Economic Assistance Scheme (IDEAS) Scheme.

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