CURRENT AFFAIRS

Detailed explanation-1: -NITI Aayog partners with GNFC Ltd to implement Fertilizer Subsidy Disbursement through Blockchain Technology.

Detailed explanation-2: -I. Release of subsidy under DBT in respect of Indigenous P&K, DAP and SSP Under DBT system, 100% subsidy on various fertilizer grades are released to the fertilizer companies on the basis of actual sales made by the retailers to the beneficiaries.

Detailed explanation-3: -Government of India has decided to implement One Nation One Fertilizers by introducing Single Brand for Fertilizers and Logo under Fertilizer subsidy scheme namely “Pradhanmantri Bhartiya Janurvarak Pariyojna” (PMBJP).

Detailed explanation-4: -The government pays a subsidy to fertiliser producers to allow farmers to buy fertilisers at below-market rates. The difference between the cost of production/import of a fertiliser and the actual amount paid by farmers is the subsidy portion borne by the government.

Detailed explanation-5: -Fertilizer Subsidy as a concept originated during the Green Revolution of the 1970s-80s. Subsidy scheme for fertilizers was first introduced by the Indian Government in 1977 through the Retention Price Scheme (RPS) for indigenous nitrogenous fertilizer units.