Budget 2023- FM Announced to Launch PM Pranam Scheme, Check Details

Finance Minister Nirmala Sitharaman announced in her Budget speech on Wednesday that the government will launch a new scheme, PM PRANAM, to encourage states and union territories to promote alternative fertilisers.

What is PM PRANAM Scheme?

The PM Programme for the Restoration, Awareness, Nourishment, and Amelioration of Mother Earth will be launched to encourage states and union territories to promote alternative fertilisers and the balanced use of chemical fertilisers.

Objectives of PM PRANAM Scheme

• The scheme aims to reduce the subsidy burden on chemical fertilisers, which is expected to rise by 39% to Rs.2.25 lakh crore in 2022-2023 from Rs.1.62 lakh crore the previous year.
• Its goal is to discourage the use of chemical fertilisers while promoting sustainable agricultural practices.

Benefits-

• The scheme expressly encourages the use of fewer chemical fertilisers.
• It would encourage the use of alternative nutrients and fertilisers, including natural nutrients.
• In the long run, reducing the use of chemical fertilisers may improve soil quality. It will increase agricultural yield and productivity in India.

The Union Ministry of Chemicals and Fertilizers proposed the PM PRANAM. During the National Conference on Agriculture for Rabi Campaign-2022, held on September 7, officials from the fertilisers ministry shared details of the proposed scheme with state government officials. However, the full name of the PM PRANAM was 'PM Promotion of Alternate Nutrients for Agriculture Management Yojana' at the time.