IFFCO has welcomed the governments decision to implement direct benefit transfer (DBT) of subsidies in fertilizers. “The benefits of transferring fertiliser subsidies directly to beneficiaries are wide ranging, high impact and will bring immense financial benefits for all the stakeholders involved viz, the government of India, farmers ,fertilizer manufacturers and the public at large. We, at IFFCO, would be happy to assist and help the Govt. of India in achieving its objective of empowering our farmers through DBT in every possible way”, a press release sent by the cooperative giant read.
We believe that the success of this pilot project and the eventual replication of the model nationwide will go a long way in rationalising fertiliser subsidies, improve the financial and operational sentiments of the ailing fertilizer industry which is reeling under heavy financial burden accrued due to squeezing of operating capital and interest payment on loans as a result of delay in payment of fertiliser subsidy to the manufacturers, it said.
Not only this but a direct transfer of fertiliser subsidies will go a long way in improving the fiscal condition of the Indian economy that is ailing due to many reasons. Not only will the fertiliser subsidy burden be rationalised but the benefits of the subsidy will directly reach the hands of the intended beneficiary, the release added.
With the PMs vision of Jan Dhan and Digital India a nationwide roll-out of the DBT in fertiliser is not a distant possibility and manufacturers like IFFCO promise to fully cooperate with the government in making this a reality. DBT in fertilisers and incremental increase of the price of Urea is the need of the hour if we need to save the Industry from collapsing and more than that if we need to keep Agriculture a viable and profitable occupation for the future generation. Overall, it sounds a good agriculture oriented budget which might help to boost rural economy in coming years, IFFCO underlined.
Earlier, in a sms sent to Indian Cooperative by the IFFCO MD Dr U S Awasthi appreciated the rural slant in the budget and gave it 6 out of 10 marks.