What does the acronym PM PRANAM stand for in the context of the Union government's scheme aimed at reducing the use of chemical fertilisers and reducing subsidy burden?

Solution

PM PRANAM stands for PM Promotion of Alternate Nutrients for Agriculture Management Yojana. The objective of this scheme is to incentivize states in order to reduce the use of chemical fertilisers and alleviate the subsidy burden associated with them. The government aims to address the growing subsidy expenditure on chemical fertilisers, which is projected to rise to Rs 2.25 lakh crore in 2022-2023, marking a 39% increase from the previous year's figure of Rs 1.62 lakh crore. By promoting the use of alternate nutrients and sustainable agricultural practices, the government seeks to reduce dependency on chemical fertilisers and enhance agricultural productivity in an environmentally friendly manner.