Business News

Union Cabinet’s Game-Changing Decisions: Promoting Sustainable Agriculture, Enhancing Farmers’ Welfare, and Advancing Research under Ministerial Leadership

The Entrepreneur Bytes Team June 28, 2023 58

In a significant meeting chaired by Prime Minister Narendra Modi, the Union Cabinet Committee on Economic Affairs (CCEA) unveiled a series of crucial decisions that encompassed various sectors. These resolutions, aimed at bolstering the agricultural and scientific landscape of the country, reflect the government’s commitment to the welfare and growth of farmers and researchers.

One of the key resolutions approved by the Cabinet was the introduction of a new scheme to promote alternative fertilizers. This initiative aims to reduce the reliance on chemical fertilizers and encourage sustainable agriculture practices. Additionally, the Cabinet announced the establishment of a national organization, the National Research Foundation (NRF), to strengthen the country’s research capabilities and foster a culture of innovation across educational institutions and research facilities.

Highlighting the government’s support for farmers, the Cabinet increased the Fair and Remunerative Price (FRP) of sugarcane by ₹10 to ₹315 per quintal for the upcoming 2023-24 season. Furthermore, it was decided that sugar mills with a recovery rate below 9.5 percent would not face deductions, ensuring that farmers receive a minimum price of ₹291.975 per quintal. These measures aim to empower sugarcane growers and enhance their income.

The Cabinet also approved the ‘PM Programme for Restoration, Awareness Generation, Nourishment and Amelioration of Mother-Earth’ (PM-PRANAM), which incentivizes states to promote alternative fertilizers and reduce the reliance on chemical fertilizers. This initiative aligns with the government’s commitment to sustainable agriculture practices and the preservation of the environment.

Another notable decision taken by the Cabinet was the ratification of the Headquarters Agreement (HQA) between the Government of India and the Coalition for Disaster Resilient Infrastructure (CDRI). The CDRI, a global partnership launched by Prime Minister Modi in 2019, aims to promote sustainable development. Ratifying the HQA grants the CDRI independent and international legal status, empowering it to carry out its mission more effectively.

To ensure self-sufficiency in urea production, the Cabinet committed a substantial package of ₹3,68,676.7 crore for urea subsidy over the next three years. Efforts will be made to establish and revive six urea production units, furthering the government’s goal of achieving self-reliance in urea production by 2025-26.

These comprehensive measures underscore the government’s dedication to the welfare of farmers and the growth of the agricultural sector. By promoting sustainable practices, empowering farmers, and advancing scientific research, the Union Cabinet aims to create a brighter future for India’s agricultural and scientific landscape.

The decisions taken during this Cabinet meeting reflect the government’s commitment to driving innovation, fostering sustainable development, and ensuring a prosperous future for the nation and its citizens.

Sources By Agencies