Payment of outstanding subsidy to fertiliser firms approved

The government is making available fertilizers to farmers at subsidised prices through fertilizer manufacturers/importers

GN Bureau | November 1, 2017


#Agriculture   #Banking  

The cabinet on Wednesday approved Special Banking Arrangement (SBA) for payment of outstanding subsidy to fertilizer companies.

The Cabinet Committee on Economic Affairs chaired by prime minister Narendra Modi has accorded approval for implementation of Special Banking Arrangement (SBA) for Rs. 10,000 crore for payment of outstanding claims on account of fertilizer subsidy in the year 2016-17.

CCEA has also approved that, in future, department of fertilizers would avail the SBA with the concurrence of department of expenditure.

Under the SBA, a total loan of Rs. 9,969 crore for settlement of outstanding subsidy bills with SBI was raised by the government. The loan amount along with interest liability on the part of government amounting to Rs. 80.90 crore were paid to SBI.

SBA for an amount of Rs. 10,000 crore for the year 2016-17 has already been implemented/ operationalised to overcome the liquidity problems of the fertiliser companies.
 

Comments

 

Other News

Bengaluru is the most dynamic city in the world: Report

India’s Silicon Valley has received the top spot as the world’s most dynamic city in the latest Jones Lang LaSalle (JLL) City Monument Index report.  Earning the top position among 131 other commercially active cities over a period of three years, Bengaluru has been hailed for it

BJP receives staggering high donations in 2017-18

The total donations (above Rs 20,000) declared by the national parties was Rs 469.89 crore, from 4,201 donations, revealed a report by Association for Democratic Reforms (ADR). The report gives the details of donations received by seven national parties: Bharatiya Janata Party (BJP), Indian National Congre

This is no e-NAM

The National Agricultural Market or e-NAM scheme was launched in April 2016 with the aim of eliminating middlemen, who make wild profits while farmers make a pittance. By trading on the online platform, farmers would be able to sell their produce across locations, seeking out the best payers. But two years

The Kumbh: The grandest spectacle on earth

It is an incredible sight. As our small boat moves towards the Sangam (the confluence of the river Ganga, Yamuna and mythical Saraswati at Prayagraj) much before the break of the dawn, a sea of humanity surges forward to take a holy dip in icy waters in an extremely cold weather by north India’s stan

A stitch in time

After giving birth to two children, Sheila (name changed), a 32-year-old resident of Shahapur in Thane, Maharashtra, decided to get herself sterilised. In 2013, some workers of a primary health centre (PHC) told her about a sterilisation camp 30 km away in Saralgaon, in her mother’s village. She did

The state of Indian education

In India, 50 percent of all boys in the age group 14 to 16 can correctly solve a division problem as compared to 44 percent of all girls, reveals the 13th ASER (Annual Status of Education Report) (Rural) 2018. The nation-wide household survey provides a snapshot of children’s schooling and learning f

Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter