Centre promises Rs 1.10 lakh crore in subsidy to protect farmers from fertiliser price hike

Nirmala Sitharaman said that the government has protected farmers from the rise in prices of fertilizers.  

New Delhi: Union Finance Minister Nirmala Sitharaman on Saturday said that the government has protected farmers from the rise in prices of fertilizers globally and an additional amount of Rs 1.10 lakh crore is being provided besides Rs 1.05 lakh crore already sanctioned in the Union Budget 2022-23. The Minister, who made a series of tweets, also announced a reduction of central excise duty on petrol and diesel and said the government is committed to ensuring that prices of essential items are kept under control. She said the world is passing through difficult times and even as the world is recovering from the Covid-19 pandemic, the Ukraine conflict has brought in supply chain problems and shortages of various goods. 

"This is resulting in inflation and economic distress in a lot of countries," the minister said."Despite the challenging international situation, we`ve ensured that there are no shortages/scarcity of essential goods. Even a few developed countries couldn`t escape some shortages/disruptions. We are committed to ensure that prices of essential items are kept under control," she added.

The minister said the Narendra Modi government is devoted to the welfare of the poor.

"We`ve taken a number of steps to help the poor and middle class. As a result, the average inflation during our tenure has remained lower than during previous governments," she said.

Sitharaman said the Prime Minister has specifically asked all arms of the government to work with sensitivity and give relief to the common man.