PM Asha Yojana: Cabinet approved continuation of PM Asha Yojana and fertilizer subsidy rates for Rabi season 2024. Know how these decisions will benefit the farmers and reduce the cost of production.
Pradhan Mantri Annadata Sankarshan Abhiyan (PM ASHA) was approved
In the cabinet meeting held on Wednesday, two important decisions were taken in the interest of farmers. The Cabinet has approved the continuation of Pradhan Mantri Annadata Income Protection Abhiyan (PM Asha). The objective of this scheme is to provide fair price to the farmers for their produce and to stabilize the price of essential commodities for the consumers.
PM Asha Yojana: Boon for Farmers PM Asha Yojana
Pradhan Mantri Annadata i Sankarshan Abhiyan i.e. Pradhan Mantri Asha Yojana helps farmers to get fair price for their produce. The Cabinet has approved an amount of Rs 35,000 crore to extend the scheme till 2025-26. This decision will help farmers get better prices for their produce, and also control fluctuations in prices of essential commodities for consumers.
According to the Cabinet, the scheme will be integrated with the Price Support Scheme and Price Stabilization Fund, which will enable both farmers and consumers to benefit from a stable and profitable market. This initiative will not only increase the income of the farmers but also bring stability to the agriculture sector of the country.
Nutrient Based Subsidy (NBS) rates fixed on P&K fertilizer for Rabi season
The Cabinet has also approved Nutrient Based Subsidy (NBS) rates on phosphatic and potassic fertilizers for Rabi season 2024 to reduce fertilizer expenditure of farmers. These subsidy rates will be applicable from 1 October 2024 to 31 March 2025.
Under this scheme, fertilizers will be available to farmers at lower rates, which will reduce their cost of production and make farming more profitable. The estimated budget of the scheme for Rabi season has been fixed at Rs 24,475.53 crore, which will help stabilize fertilizer prices for farmers.
How will it benefit?
Both these decisions of the government will directly benefit the farmers financially. On one hand, PM Asha Yojana will help farmers to get fair price for their produce, on the other hand, fertilizer subsidy will reduce their cost of production.
Keeping in mind the international prices and cost of fertilizers, the government has ensured that the farmers get the fertilizers at affordable rates. Fertilizer companies will be directly subsidized to provide affordable fertilizer to farmers.
What will be the consequences of these decisions?
Implementation of both these schemes will not only provide financial assistance to the farmers, but also improve the country’s food security and agricultural production. By reducing the cost of crop production, the income of the farmers will increase and they will be able to produce more.
Apart from this, there will be stability in the prices of essential commodities for the consumers, which will also benefit the common man.
