Finance Minister Nirmala Sitharaman, while seeking approval for additional expenditure during the current financial year, said in the Lok Sabha that due to good monsoon, the demand for urea from farmers has increased and they are seeing the possibility of another crop. The central government has sought permission to spend an additional ₹1.
32 lakh crore. This involves additional expenditure of ₹41,455. 39 crore, of which ₹90,812.
17 crore has been derived from savings made in other areas. The increased expenditure on fertilizers comprises 45% or ₹18,525. 1 crore of the earlier additional cash expenditure sought in the latest demand for supplementary grants.
Also read: Highlights from Day 11 of Parliament’s winter session Elaborating on the component, Ms Sitharaman said, “The monsoon was very good. They (farmers) see the possibility of another crop because of the rains and moisture on the ground,” she said, adding, “So, farmers want more urea, and want to ensure that imports and domestic production are happening [accordingly]. ” In his address, the Finance Minister also underlined that there is no shortage of urea in the country.
He informed the House that between June and October this year, i. e. Kharif season, the project fertilizer requirement was 185.
39 lakh metric tonnes (LMT) and the government had ensured that about 230. 53 LMT urea was available. Sales during this period stood at 193.
2 LMT. Pointing to the surplus, he said, “We have managed it in such a way that there is a buffer available for the coming Rabi season also.
” Ms Sitharaman said that within a month, i. e.
in October, by cautiously “continuous importing”, 20. 21 LMT has been added to the total urea stock. “We are importing without blinking because we do not want any shortage for our farmers,” he told the House.
The Rajya Sabha MP also told House members that around 17. 5 lakh metric tonnes of imports are going to happen for November and December.
Regarding domestic production, Ms Sitharaman told the House that monthly production between April and October averaged around 25 lakh metric tonnes. He stressed that there is no shortage of urea, neither for the Kharif season nor for the upcoming Rabi season.