PM Pranam Scheme UPSC and Increased FRP 2023

New scheme is here, PM-PRANAM Scheme and increased FRP 2023. Empowering farmers for a prosperous future. The Prime Minister’s well-designed PM-PRANAM (Pragati EVAM Nivaran for Agri Finance Movement) scheme aims to ease the financial difficulties faced by farmers. Farmers get quick access to loan options, insurance and other forms of financial support under this scheme. The program aims to reduce the debt burden on farmers so they can invest in advanced agricultural methods, machinery and tools. The PM-PRANAM program provides farmers with cheap loans as one of the key components of the program. To provide low-interest loans tailored to farmers’ special requirements, the government has partnered with financial institutions. This ensures they can buy what they need, including seeds, fertilizer and equipment, without paying excessive interest rates.

PM Pranam UPSC Program

The program also provides extensive coverage to farmers against unforeseen events such as natural disasters, crop failure or livestock damage. Farmers are provided with a safety net in this way, reducing the dangers of farming and ensuring their income. The government has also improved Fair and Remunerative Prices (FRP) for agricultural commodities by 2023, which is an important step in supporting farmers. FRP is the lowest price at which sugar mills will buy sugarcane from farmers. Higher FRP ensures that farmers are fairly compensated for their labor and promotes environmentally friendly farming methods.

The updated FRP considers a number of variables, including input costs, market circumstances and overall farmer welfare. The government wants to increase FRP to increase the income of sugarcane farmers and improve their living standards. Farmers are encouraged to continue their agricultural efforts thanks to this increase, and it also gives them the means to reinvest in their operations to increase production and expand.

This plan has been approved by the Cabinet Committee on Economic Affairs (CCEA). Fair and profitable sugarcane price has also been increased from Rs 10 to Rs 315 per quintal for the crop year 2023 ton 2024 which will start from October. The government has also increased the urea subsidy scheme till March 2025 with a allocation of Rs 3.68 lakh crore. And nutrient-based subsidy worth Rs 38,000 crore, has been approved for Kharif season from 2023 to 2024. According to sources, PM-PRANAM was first announced by the Union government in 2023- 2024. The main aim of the scheme is to reduce the unwanted use of chemical fertilizers by encouraging states to use alternative fertilizers. This is a very good action by the Indian government.

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Source: Tekmonk Bio, Make Money Blogging

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