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The Russian-Ukraine War between Russia and Ukraine has put Indian farmers in trouble. The price of fertilizers has increased by 40 per cent in the global market, which will have a direct impact on the farmers
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The war between Russia and Ukraine (Russia-Ukraine War) has increased the economic burden on the Indian government. The crisis arising out of this war has caused damage on a global scale. Meanwhile, there has been a tremendous increase in the prices of fertilizers in the global market, which will have a direct impact on Indian farmers.
The increased cost of fertilizers from Russia will increase the economic burden on the farmers. However, the central government can double the subsidy on fertilizers to save the farmers from the burden of this increased price. It is being said that this time the central government is considering giving fertilizer subsidy of Rs 2 lakh crore to the farmers. That is, the government will spend an additional subsidy of Rs 1 lakh crore on this.
Earlier, while presenting the Budget 2022-23 on February 1, Finance Minister Nirmala Sitharaman had announced a subsidy of Rs 1 lakh crore on fertilizers for the current financial year. Now the prices of the fertilizers that India imports have become very high in the global market. In such a situation, it is not easy for the farmers to pay this price, so the government can increase the fertilizer subsidy by Rs 1 lakh crore.
Earlier, on March 31, the government had increased the estimate of subsidy on fertilizers to Rs 1.40 lakh crore, but this subsidy will not be enough for the farmers. In such a situation, the government increased it by Rs 60,000 crores and now the subsidy of Rs 2 lakh crores is being discussed.
Significantly, the Government of India imports large quantities of raw materials for making fertilizers like Di Amino Phosphate (DAP) urea. Russia and Ukraine also have a big stake in this. In the present situation, due to obstruction in the supply of goods from both the countries, their prices in the global market have increased by about 40 per cent. That is, the economic burden on the farmers has increased.
According to an official related to this matter, the government has made preparations to deal with this problem. The government has accumulated huge stock of fertilizers for Rabi and Kharif crops. Under this, 30 lakh tonne of DAP and 70 lakh tonnes of urea have been procured so far. Apart from this, the government is also continuously making efforts to be self-reliant in this area. In the coming time, many of its units will start in the country which will start producing them. After this, India's dependence on imports will also reduce.