SME Times is powered by   
Search News
Just in:   • Equity indices break two-day losing streak on value buying  • IMF urges Sri Lanka to tighten monetary policy  • Global semiconductor sales to reach $676 bn this year: Gartner  • Tinna Rubber hits upper circuit, investors accumulate 900% returns in year  • Availability of jobs in Japan improves for 1st time in 3 yrs 
Last updated: 07 Feb, 2017  

Ananth Kumar 'Rs 10,000 cr in Budget to clear fertiliser subsidy dues'

Ananth Kumar
   Top Stories
» Net direct tax collection reaches highest-ever figure in FY 22
» Musk has to manufacture here to sell Tesla cars in India: Gadkari
» Round tripping of industrial inputs by large players unfavourable to local value chains
» Sitharaman engages investors in Silicon Valley
» Modi hails India's success in achieving target of $400 billion of exports
SME Times News Bureau | 07 Feb, 2017
Union Minister of Chemicals and Fertilisers Ananth Kumar on Monday said that to reduce the burden of fertiliser subsidy backlogs, a special banking arrangement of Rs 10,000 crore has been approved in the Budget 2017-18.

"To reduce the burden of fertiliser subsidy backlogs, a special banking arrangement of Rs 10,000 crore has been approved in this Budget," the minister told media persons while presenting his views on Budget 2017-18.

The minister said that the overall budget allocation for the fertiliser sector is Rs 74,235 crore.

Fertilisers, along with power, has been the torchbearer of achievement, he added.

"It has been one of the fastest growing sectors in the last quarter," he said.

Ananth Kumar said that the government has taken key measures to make the country self-sufficient in urea and other fertilisers.

The steps include promoting energy efficiency in urea production, maximising indigenous urea production, timely import of urea and other fertilisers, pre-positioning of fertilisers with the states during lean season to ensure adequate supply in the season and rationalising the subsidy.

Such steps have resulted in highest ever production of 245 LMT of urea previous year, without adding additional capacity.

"Indigenous urea as well as imported urea have been neem coated. This has resulted in an increase in farm yield with less urea required and helped check black marketing and hoarding of urea," he added.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 27 Apr, 2022
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter