PM PRANAM Yojana 2023: Check Updates, Benifits and Application details

The year 2023 marks the initiation of the PM Pranam Yojana, a government-led effort aimed at addressing the escalating issue of excessive synthetic fertilizer utilization among cattle farmers throughout the country.

The Central Government acknowledges the growing challenges associated with the substantial use of artificial fertilizers, leading to mounting burdens on the government. To tackle this concern, the government is contemplating the launch of the PM Pranam Yojana, officially known as the “PM Advancement of Elective Sustainment for Farming Administration Plan.” In this article, we delve into the objectives of the PM Pranam Yojana and how it is poised to benefit both the government and the farmers of our nation.

PM PRANAM Yojana 2023

The PM Pranam Yojana is an initiative rolled out by the Central Government to mitigate the mounting expenses incurred due to synthetic fertilizer usage. Reports indicate that the government’s subsidy burden is projected to reach Rs 2.25 lakh crore in the fiscal year 2022-23, marking a substantial 39% increase compared to the preceding year. It is worth noting that the PM Pranam Scheme will not have a separate budget allocation. Instead, it will draw funding from the existing fertilizer distribution schemes. Specifically, 50% of the Appropriation Reserve Fund will be designated for the PM Pranam Scheme, with a significant portion allocated to states.

The states will receive 70% of this funding, intended for innovation adoption and the establishment of alternative compost manufacturing units at city, block, and district levels. The remaining 30% will be dedicated to incentivizing and supporting various stakeholders involved in reducing fertilizer use, including animal husbandry, panchayats, farmer producer associations, and farmers themselves.

Objective of PM PRANAM Yojana 2023

The primary objective of the PM Pranam Yojana is to alleviate the financial burden placed on the Central Government due to the ever-increasing demand for synthetic fertilizers by farmers. The government has witnessed a steady rise in the subsidy expenditure, with projections indicating an increase from Rs 1.40 lakh crore in the revised estimate for 2021-22 to an anticipated Rs 1.62 lakh crore in 2021. For the year 2022-23, the government has allocated a budget of Rs 1.05 lakh crore for fertilizer subsidies. However, it is speculated that the actual subsidy expenses may surpass Rs 2.25 lakh crore for the current year.

To address this escalating concern, the PM Pranam Scheme has been introduced, aimed at diminishing the government’s financial commitment toward synthetic fertilizers.

PM Pranam Scheme Application details

The PM Pranam Scheme will not have a separate allocation; instead, it will be funded from the existing Manure Endowment Reserve Fund, as per the schemes administered by the Department of Manure. The Central Government will provide 50% of the existing Manure Endowment Investment Fund as a grant to the State Legislatures. Of this grant, 70% will be channeled into fostering innovation and generating resources for alternative compost production units at the urban, rural, and local levels. The remaining 30% of the grant will be utilized by the state governments to incentivize and promote farmers, panchayats, farmer producer organizations, and self-help groups actively engaged in reducing fertilizer usage and creating awareness.

Benefits and Features of PM Pranam Yojana

The PM Pranam Yojana promises several advantages:

  1. It relieves the Central Government from the escalating financial burden associated with synthetic fertilizer subsidies.
  2. The scheme addresses the anticipated subsidy expenses, which are projected to reach Rs 2.25 lakh crore in 2022-23, a 39% increase from the previous year.
  3. It aims to reduce the excessive use of synthetic fertilizers among cattle farmers across the country.
  4. The scheme encourages innovation adoption and the establishment of alternative compost manufacturing units at various administrative levels.

Notably, officials from the Union Ministry of Chemicals and Fertilizers have presented details of the proposed scheme to state government representatives during the National Conference on Agriculture for Rabi Campaign, held on September 7.

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