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| Smart fertiliser subsidy signals |
| Smart fertiliser subsidy signals bold farm reform
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| INDIA
, 19-February-2010
3:39:36 AM |
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In a bold move that will not just prune the humongous fertiliser subsidy bill but also change the face of agriculture, Prime Minister Manmohan Singh, aided by several Cabinet colleagues, on Thursday brought in a nutrient-based subsidy (NBS) regime.
This will incentivise companies to innovate beyond a handful of products sold in the market presently and offer farmers choice based on soil needs. This is expected to trim the subsidy bill by about Rs 44,000 crore a year.
The NBS regime, approved by the Cabinet today, replaces the age-old product-based subsidy regime for fertilisers, and comes despite serious reservations by DMK and Trinamool Congress, key partners in the UPA government. DMK chief M Karunanidhi’s son M K Alagiri is the Chemicals and Fertiliser Minister.
Proceedings in the Cabinet took a rather curious turn when Alagiri first proposed the new regime in the meeting and then openly expressed doubts in writing about its timing. He requested his other DMK colleague in the Cabinet, Textile Minister Dayanidhi Maran, to read out a two-page note in English in which the DMK’s stand seeking postponement of the NBS was recorded
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