Which of the following statements is true regarding the PM-PRANAM scheme approved by the Cabinet Committee on Economic Affairs?

The Cabinet Committee on Economic Affairs (CCEA) approved the PM-PRANAM scheme, which promotes the use of nutrient-based, biofertilizers for sustainable agriculture. The scheme aims to save the soil, promote balanced fertilizer use, and involve the participation of state governments. States that reduce the use of chemical fertilizers will receive a subsidy from the central government. The scheme also includes continuation of the urea subsidy scheme to ensure affordable availability of urea for farmers. Nano urea production will be increased, and organic fertilizers from Gobardhan plants will be promoted. ·         Sugarcane farmers will benefit from the FRP hike, with additional incentives for higher recovery rates. ·         Sugar mills with recovery below 9.5% will not face deductions in FRP. ·         The decision aims to reduce arrears to farmers and ensure sufficient funds for sugar mills.