Prime Minister Narendra Modi recently revealed that the Indian government has invested ₹16 lakh crore over the last 12 years to ensure farmers have access to affordable fertilisers. Speaking at the India Today Kisan Tak Agri Conference, PM Modi highlighted the government's commitment to protecting farmers from the volatility of global agricultural input markets, especially amid geopolitical conflicts.
Modi underscored the substantial difference between international and domestic fertiliser prices. He noted that a bag of diammonium phosphate (DAP), which typically costs around ₹5,000 in the international market, is made available to Indian farmers for just ₹1,300. Similarly, a bag of urea, priced at approximately ₹3,000 globally, is sold to Indian farmers for less than ₹300.
Shielding Farmers from Global Price Hikes
These figures illustrate that Indian farmers pay roughly 74% less for DAP and over 90% less for urea compared to international rates. The Prime Minister emphasized the sheer scale of this governmental expenditure, stating that ₹16 lakh crore surpasses the annual budgets of many countries, translating to an average annual outlay of about ₹1.33 lakh crore.
Geopolitical tensions, particularly conflicts involving Iran and the Gulf region, have significantly impacted global prices for agricultural raw materials and fertilisers. Despite these external pressures, India has maintained its policy of providing fertilisers at subsidized rates, ensuring stability for its agricultural sector.
Promoting Sustainable Farming
While highlighting the extensive support for affordable fertilisers, PM Modi also advocated for a shift towards sustainable agricultural practices. He urged farmers to reduce their reliance on chemical inputs and adopt natural and organic farming methods to protect soil health and environmental integrity. Modi questioned the long-term impact of current chemical use on 'Mother Earth'.
Broader Economic Achievements
Beyond agricultural subsidies, Modi cited other national achievements, including a World Bank study indicating that 50 crore Indians have moved out of poverty over the last 12-13 years, with substantial improvements in rural areas. He also highlighted India's agricultural sector's consistent growth, averaging over 4% annually for the past decade—a performance he described as unprecedented since the nation's independence.