FMs Grand stimulus package: Rs 65,000-cr fertiliser subsidy for farmers

Giving a major boost for farmers, Finance Minister Nirmala Sitharaman on Thursday announced a Rs 65,000-crore fertilizer subsidy for farmers as part of her stimulus package to elevate the economy.

Finance Minister said Rs 65,000 crore is being provided to ensure sufficient availability of fertilizers to farmers and to enable timely accessibility of fertilizers in the upcoming crop season. She added an additional outlay of Rs 10,000 crore will be provided for PM Garib Kalyan Rozgar Yojana in the current financial year. Hopefully, this will accelerate the growth of the rural economy.

In addition, Sitharaman said Rs 3,000 crore will be released to EXIM Bank for the 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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