Atmanirbhar Bharat 3.0: Fresh allocation to help fertiliser cos clear dues

New Delhi: The fertiliser industry said it expects major gains from finance minister Nirmala Sitharaman’s announcement of a Rs 65,000 crore stimulus for the sector in the upcoming crop season. Satish Chander, director general of the Fertiliser Association of India, said the additional allocation will easily take care of the industry’s pending payments as well as this year’s subsidy amount.

“There is an outstanding of around Rs 47,000 crore. The subsidy this year is likely to be over Rs 80,000 crore. The industry will be needing some additional funds to fulfil banking arrangements also. We are grateful to the government for this much-needed stimulus,” said Chander. The FM said stimulus of Rs 65,000 crore will help 140 million farmers get increased supply of subsidised fertiliser. She said consumption has increased over the years.