Cabinet Plans To Approve PM-PRANAM Scheme: Key Details You Must Not Miss

The Cabinet is likely to adopt the PM-PRANAM scheme, which was proposed in Budget 2023 to promote alternate fertiliser sources. PM PRANAM stands for PM Promotion of Alternate Nutrients for Agriculture Management Yojana, which was introduced to alleviate the subsidy burden on chemical fertilisers. Here's everything you need to know about the PM Pranam programme.

What is PM Pranam?

The PM PRANAM Scheme stands for PM Programme for Mother Earth Restoration, Awareness, Nourishment, and Amelioration. The scheme's major goal is to reduce the usage of chemical fertilisers and encourage the balanced use of chemicals. The government intends to promote fertiliser alternatives in order to achieve green growth while minimising environmental effect.

Objective-

• The scheme's major goal is to promote the balanced use of fertilisers in conjunction with biofertilizers and organic fertilisers.
• The PM Pranam programme also emphasises lower state subsidies. According to the initiative, states will get a grant equal to half of their subsidy savings. Subsidy savings will be utilised to fund new technology in the fertilisers business.

Benefits of the PM PRANAM Scheme

More than a crore farmers in India will profit from the PM PRANAM Scheme. The government's initiative to promote alternatives to fertilisers will provide farmers with cost-effective and environmentally friendly options for maintaining soil fertility. The PM Pranam scheme aims at promoting alternative nutrients for agri management.

Other Key Points-

Furthermore, according to the report, 70% of the money allocated under the scheme is likely to be used for asset building connected to the technological adoption of alternate fertilisers and alternate fertiliser production units at the village, block, and district levels.

The remaining 30% of award funds can be utilised to reward and encourage farmers, panchayats, farmer producer organisations, and self-help groups active in fertiliser reduction and awareness building.