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15 January 2019
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| Fertiliser (The Total Investment & Insurance Solutions) |
The Fertiliser Ministry has sought additional
Rs 23,000 crore from the Finance NSE 1.40 % counterpart to meet the subsidy
requirement for the January-Marchquarter, a senior government official said
Tuesday. Till December, a subsidy payment of Rs 23,283 crore was due towards
fertiliser companies and the ministry was left with about Rs 13,056 crore from
the budgeted allocation, he added. "We have sought an additional budget of
Rs 23,000 crore to meet the subsidy requirement for the current quarter,"
the official said.
The backlog of pendency will be cleared from
the balance funds available during the current fiscal and the remaining dues
will be paid on receipt of additional budget, he said. The government releases
subsidy to the fertiliser companies on regular basis subject to the
availability of budget. For the current fiscal, the government had budgeted Rs
73,439.85 crore for payment of fertiliser subsidy. The government has already
paid Rs 60,383.79 crore till December of this fiscal, the official data showed.
The subsidy is not being released to farmers
directly, it is given on various soil nutrients to fertiliser companies in
public, private and cooperative sector. The Fertiliser Ministry is giving
subsidy through the Direct Benefit Transfer (DBT) scheme, which is different
from the traditional DBT implemented for LPG.
Under the fertiliser DBT system, the soil
nutrient is made available to farmers/beneficiaries at a subsidised prices and
100 per cent subsidy on the fertiliser grades is released to the companies
instead of the beneficiaries on the basis of actual sales made by the
retailers. Sale of all subsidised fertilisers to farmers is being made through
Point of Sale (POS) devise installed at each retailer shop and the
beneficiaries are identified through Aadhaar card, kisan credit card, voter
identity card among others.The Total
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