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NEW DELHI: The central government on Wednesday announced nutrient-based subsidy rates for phosphatic and potassic fertilizers for the upcoming Kharif crop season, which runs from April to September, to cushion the impact of rising global prices for farmers.
The new subsidy rates translate to over 50% increase in the subsidy given per bag of the fertilizer compared to the previous year, Information and Broadcasting minister Anurag Singh Thakur said at a press briefing after the meeting of the Union Cabinet.
The Union Cabinet also approved continuation of Prime Minister Street Vendor’s Atma Nirbhar Nidhi (PM SVANidhi) scheme beyond till December 2024.
The Cabinet approved construction of 540 megawatt Kwar Hydro Electric project in Jammu & Kashmir. The project is expected to generate 1,975 million units of electricity and will likely be commissioned in 54 months, as per an official statement.
Thakur said power demand in Jammu and Kashmir is growing and the project will make the region power surplus. The project will be on Chenab river.
The government also cleared the revised cost estimate for setting up of India Post Payments Bank, with an additional funding of ₹820 crore for FY21 to FY23.
To enable better internet and data services in areas affected by left wing extremism, the government approved upgradation of 2G mobile sites to 4G at a total cost of ₹2,426.39 crore, the statement said.