Increased demand for urea from farmers after good monsoons: FM elaborates on need for additional spending

Increased demand for urea from farmers after good monsoons: FM elaborates on need for additional spending

Business


Union Finance Minister Nirmala Sitharaman speaks in the Lok Sabha during the Winter session of Parliament, in New Delhi.
| Photo Credit: –

There is increased demand for urea from farmers because of good monsoons and them seeing the prospect for one more crop, Finance Minister Nirmala Sitharaman told the Lok Sabha whilst seeking its approval for incurring additional expenditure during the ongoing financial year.

The Union government has sought permission to spend an additional ₹1.32 lakh crore. This comprises ₹41,455.39 crore of additional spending, with ₹90,812.17 crore of spending being derived from savings made in other areas. Increased spending on fertilisers comprises 45%, or ₹18,525.1 crore of the former additional cash outgo being sought in the latest demand for supplementary grants.

Elaborating on the component, Ms. Sitharaman explained, “Monsoon was very good. They (farmers) see prospect for one more crop because of the rain and moisture on the ground,” adding, “Therefore, farmers want more urea, and to ensure that import and domestic production are happening [accordingly].”

In her address, the finance minister also underlined that there is no shortage of urea in the country.

She informed the house that between June and October this year, that is, the Kharif season, project fertiliser requirement was 185.39 lakh metric tonne (LMT) with the government ensuring that approximately 230.53 LMT of urea was available. Sales during the period stood at 193.2 LMT. Pointing to the surplus, she said, “We have managed it in such a way that there is a buffer available for the on-coming Rabi season also.”

Ms. Sitharaman added that by careful means of “importing steadily” within a month, that is, October, 20.21 LMT has been added to the overall urea stock. “We have been importing without blinking an eye because we do not want any shortage for our farmers,” she told the house.

The Rajya Sabha MP also informed members of the house of people that imports of about 17.5 lakh metric tonnes are lined up for November and December.

About domestic production, Ms. Sitharaman informed the house that monthly production on an average between April and October stood at approximately 25 lakh metric tonnes.

She emphasised there is no shortage of urea, neither for the Kharif season nor the upcoming Rabi season.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *