ADDITIONAL SUBSIDY for Farmers: FM Sitharaman announces Rs 14,775 cr extra; Check full details

To help revive the economy affected by Covid-19, Finance Minister Nirmala Sitharaman on Monday, June 28 announced slew of measures including additional subsidy for farmers.

The Finance Minister said that an additional amount of Rs 14,775 crore will be provided which will include Rs 9,125 core additional subsidy for DAP and Rs 5,650 crore additional subsidy for NPK based complex fertilizer.

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As per the information provided during the press briefing, record procurement of 432.48 lakh MT of wheat in Rabi marketing Season (RMS) 2021-22 has been made against 389.92 lakh MT in RMS 2020-21.

Also, Rs 85,413 crore has been paid to farmers. The Existing NBS subsidy was Rs 27,500 crores in FY 2020-21 which has been increased to Rs 42,275 crore in 2021-22.

• PMGKAY Extended

- Cost Rs 2,27,841 crore
- Beneficiaries include poor & underprivileged sections pic.twitter.com/FjKcHCBWxb

— Office of Mr. Anurag Thakur (@Anurag_Office) June 28, 2021

During the briefing details were also provided about the Pradhan Mantri Gareeb Kalyan Yojana (PMGKAY). PMGKAY was launched on March 26, 2020 to ameliorate the hardships faced by the poor due to the economic disruption caused by Covid-19 pandemic. 

The scheme was later extended till November 2020 and in the wake of the second wave of the pandemic it was relaunched in May 2021 to ensure food security of poor/vulnerable/.

As per the information 5 kg of food grains will be provided free of cost to NFSA beneficiaries from May to November 2021. The estimated Financial implications are Rs 93,869 crore bringing the total cost of PMGKAY to rs 2,27,841 crore.