Cabinet clears fertiliser subsidy for Kharif season, PLI scheme worth Rs 17k cr for IT hardware
The subsidy will ensure availability of fertilisers to farmers at subsidised, affordable and reasonable prices, said Minister of Chemicals and Fertilisers Mansukh Mandaviya
- May 17, 2023,
- Updated May 17, 2023 4:06 PM IST
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved fertiliser subsidy ahead of the Kharif season, announced Minister of Chemicals and Fertilisers Mansukh Mandaviya at a press conference in New Delhi on Wednesday.
The Kharif season is crucial for farmers as they rely heavily on fertilisers during this time for crop cultivation and yield enhancement. The move will ensure availability of fertilisers to farmers at subsidised, affordable and reasonable prices, said Mandaviya.
Cabinet also approved PLI scheme for Information Technology hardware with a budgetary outlay of Rs 17,000 crore, said IT Minister Ashwini Vaishnaw.
"Government will be providing a subsidy of Rs 38,000 crore for the Kharif 2023 to fulfil its commitment of providing quality and subsidised P&K fertilizers to farmers. The Cabinet decision will have the two-fold benefit of ensuring availability of DAP and other P&K fertilizers to farmers at subsidised, affordable and reasonable prices during Kharif season and will also ensure rationalisation of subsidy on P&K fertilizers," said Mandaviya.
The Union Cabinet on Wednesday approved a Rs 1.08 lakh crore-fertiliser subsidy for the 2023-24 Kharif season, a move aimed to ensure that there is no increase in the retail prices of fertilisers.
For the Kharif season, the Cabinet has approved Rs 70,000 crore subsidy for urea and Rs 38,000 crore for DAP and other fertilisers, Fertiliser Minister Mansukh Mandaviya said. ''A total of Rs 1.08 lakh crore will be spent on fertiliser subsidy for the Kharif season (April-September),'' he said, and added that there will no change in the MRP (Maximum Retail Price) of fertilisers.
Currently, the price of urea is Rs 276 per bag and the price of DAP is Rs 1,350 per bag.
The subsidy is likely to benefit arout 12 crore farmers.
''For IT PLI, the budgetary outlay is Rs 17,000 crore. The tenure of the programme is 6 years,'' Vaishnaw told reporters after the cabinet meeting. PLI Scheme 2.0 for IT hardware covers laptops, tablets, all-in-one PCs, servers and ultra-small form factor devices.
The minister said the scheme is expected to lead to incremental production of Rs 3.35 lakh crore, incremental investment of Rs 2,430 crore and create incremental direct employment for 75,000 people during the scheme period. The government in February 2021 approved the PLI scheme for IT hardware, covering the production of laptops, tablets, All-in-One PCs and servers with an outlay of Rs 7,350 crore.
However, industry players had requested the government to enhance outlay for the segment. PLI Scheme, launched in April 2020 with a focus on mobile phone production, has given a massive boost to electronics manufacturing in the country. India has become the world's second-largest manufacturer of mobile phones. Exports of mobile phones crossed a major milestone of USD 11 billion (about Rs 90 thousand crore) in March. The global electronics manufacturing ecosystem is coming to India, and it is emerging as a major electronics manufacturing country.
Building on the success of the Production Linked Incentive scheme (PLI) for mobile phones, the Union Cabinet has approved PLI Scheme 2.0 for IT hardware.
With inputs from PTI
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved fertiliser subsidy ahead of the Kharif season, announced Minister of Chemicals and Fertilisers Mansukh Mandaviya at a press conference in New Delhi on Wednesday.
The Kharif season is crucial for farmers as they rely heavily on fertilisers during this time for crop cultivation and yield enhancement. The move will ensure availability of fertilisers to farmers at subsidised, affordable and reasonable prices, said Mandaviya.
Cabinet also approved PLI scheme for Information Technology hardware with a budgetary outlay of Rs 17,000 crore, said IT Minister Ashwini Vaishnaw.
"Government will be providing a subsidy of Rs 38,000 crore for the Kharif 2023 to fulfil its commitment of providing quality and subsidised P&K fertilizers to farmers. The Cabinet decision will have the two-fold benefit of ensuring availability of DAP and other P&K fertilizers to farmers at subsidised, affordable and reasonable prices during Kharif season and will also ensure rationalisation of subsidy on P&K fertilizers," said Mandaviya.
The Union Cabinet on Wednesday approved a Rs 1.08 lakh crore-fertiliser subsidy for the 2023-24 Kharif season, a move aimed to ensure that there is no increase in the retail prices of fertilisers.
For the Kharif season, the Cabinet has approved Rs 70,000 crore subsidy for urea and Rs 38,000 crore for DAP and other fertilisers, Fertiliser Minister Mansukh Mandaviya said. ''A total of Rs 1.08 lakh crore will be spent on fertiliser subsidy for the Kharif season (April-September),'' he said, and added that there will no change in the MRP (Maximum Retail Price) of fertilisers.
Currently, the price of urea is Rs 276 per bag and the price of DAP is Rs 1,350 per bag.
The subsidy is likely to benefit arout 12 crore farmers.
''For IT PLI, the budgetary outlay is Rs 17,000 crore. The tenure of the programme is 6 years,'' Vaishnaw told reporters after the cabinet meeting. PLI Scheme 2.0 for IT hardware covers laptops, tablets, all-in-one PCs, servers and ultra-small form factor devices.
The minister said the scheme is expected to lead to incremental production of Rs 3.35 lakh crore, incremental investment of Rs 2,430 crore and create incremental direct employment for 75,000 people during the scheme period. The government in February 2021 approved the PLI scheme for IT hardware, covering the production of laptops, tablets, All-in-One PCs and servers with an outlay of Rs 7,350 crore.
However, industry players had requested the government to enhance outlay for the segment. PLI Scheme, launched in April 2020 with a focus on mobile phone production, has given a massive boost to electronics manufacturing in the country. India has become the world's second-largest manufacturer of mobile phones. Exports of mobile phones crossed a major milestone of USD 11 billion (about Rs 90 thousand crore) in March. The global electronics manufacturing ecosystem is coming to India, and it is emerging as a major electronics manufacturing country.
Building on the success of the Production Linked Incentive scheme (PLI) for mobile phones, the Union Cabinet has approved PLI Scheme 2.0 for IT hardware.
With inputs from PTI