The Cabinet Committee on Economic Affairs (CCEA) approved a new formula to calculate production subsidy for which sector/product

2016

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Sugar
B	Rice
C	Oil
D	Pulses

Explanation:

Detailed explanation-1: -The Cabinet Committee on Economic Affairs (CCEA) approved the new nutrient-based subsidy rates for phosphatic and potassic fertilisers on Wednesday. New Delhi: The Centre has approved an additional fertilizer subsidy of Rs 51, 875 crore for the rabi or winter planting season, which runs from October 2022 to March 2023.

Detailed explanation-2: -It is being implemented from April 2010 by the Department of Fertilizers, Ministry of Chemicals & Fertilizers.

Detailed explanation-3: -The Cabinet Committee on Economic Affairs chaired by Hon’ble Prime Minister Shri Narendra Modi has approved the increase in the Minimum Support Prices (MSP) for all mandated Rabi Crops for Marketing Season 2023-24.

Detailed explanation-4: -It is operated and maintained by the Department of Fertilizers. The tagline of this scheme is PROSPEROUS FARMER, PROSPEROUS INDIA. Its main objective is to provide Nutrient Based Subsidy (NBS) rates for Phosphatic and Potassic (P&K) fertilizers to the farmers.

Detailed explanation-5: -The Subsidy approved by Cabinet for the NBS Rabi-2022 (from 01st October 2022 to 31st March 2023) will be Rs. 51, 875 crore including support for indigenous fertilizer (SSP) through freight subsidy.

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