The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the extension of the Pradhan Mantri Annadata Aye Samrakshana Abhiyan (PM-Asha) scheme with a substantial budget of ?35,000 crore. This initiative aims to bolster support for farmers and stabilize the prices of essential commodities across the country. The expanded scheme will now combine elements from several existing programs, including the Price Support Scheme (PSS), Price Stabilization Fund (PSF), Price Deficiency Payment Scheme (POPS), and Market Intervention Scheme (MIS), to offer more comprehensive benefits.
In addition to the PM-Asha extension, the Cabinet has introduced a subsidy of ?24,474 crore for phosphatic and potassic (P&K) fertilizers. This subsidy is designed to make essential agricultural nutrients more affordable for farmers. Effective from October 2024 to March 2025, the subsidy will support the distribution of 28 grades of P&K fertilizers at lower prices through manufacturers and importers.
These measures are expected to provide significant relief to farmers by ensuring fair prices for their crops and enhancing the affordability of crucial agricultural inputs. The extended PM-Asha scheme and the new fertilizer subsidy together aim to stabilize agricultural markets and support the farming community.
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