Govt allocates Rs. 30 billion for chemical fertilisers


By A Staff Reporter,Kathmandu, May 30: The government has allocated a budget of Rs. 30 billion for the distribution of chemical fertilisers to farmers at subsidised rate for the fiscal year 2023/24.

Presenting the budget for the next fiscal year 2023/24 in the Federal Parliament on Monday, Finance Minister Dr. Prakash Sharan Mahat said that the government had allocated this amount of budget to ease the distribution of chemical fertilsiers to farmers.

This amount is double of what was allocated for the current fiscal year.

The government has allocated a budget of Rs. 58.97 billion for the development of the agriculture sector under the Ministry of Agriculture and Livestock Development for the next fiscal year. Finance Minister Mahat said that timely supply would be ensured by improving the chemical fertiliser procurement process.

The government has also announced that fertiliser supply would be made systematic and transparent.

The government has mentioned in the budget speech that a detailed project report would be prepared to establish a chemical fertiliser factory in the country and the work would be carried forward through the Investment Board Nepal in public-private partnership.

Similarly, a budget of Rs 3.22 billion has been allocated to the Prime Minister Agricultural Modernisation Programme for the next fiscal year 2023/24.

Through this programme, the learning and earning programme is in operation at 116 locations.

The government has announced a programme for farmers 'Production in offer, subsidy in hand'.

Finance Minister Dr. Mahat said that the programme was introduced to encourage farmers to produce for the development of the agricultural sector.

He said that the agricultural subsidy would be made based on the production with the slogan ‘Production in offer, subsidy in hand’.

All other types of agricultural subsidies would be provided based on production, except the subsidies given for seed purchase, chemical fertilisers, insurance and mechanisation, he said.

According to this, to make the grant system systematic and transparent, new standards and procedures would be formulated and implemented by the end of July, this year.

The government expected that this would address the common complaint that the subsidies being provided in agriculture are not utilised and the real farmers would benefit and help to increase the agricultural production.

Minister of Finance Dr. Mahat said that even provincial and local levels could adopt the agricultural subsidy system based on production.  

The government has allocated Rs. 470 million to prepare agricultural and animal husbandry graduate manpower at every local level with the slogan of ‘technical services in farms: support in production’. “From this, I believe that farmers can get technical services in the fields,” said the Finance Minister.

In order to attract youth in agriculture and livestock business and develop entrepreneurship in collaboration with the local level, around Rs 1.20 billion has been allocated for the operation of youth start-up grant programme.

How did you feel after reading this news?

More from Author

High-speed rail becoming costly for UK government

Pokhara to host festival on World Tourism Day

Rising wildfire threat spurs AI fire fighting solutions

Nobel Scraps Invite To Russia

Nepal Needs To Promote Academic Tourism

Grand premiere of Rangeli to be held in Australia

Ensure Access To Safe Drinking Water For All