Government allocated of Rs 49 billion to import chemical fertilizer

KATHMANDU: For the upcoming fiscal year, the government has planned to significantly increase budgetary allotment for the purchase of chemical fertilizers.

The government will spend a total of Rs 49 billion to import chemical fertilizers, according to the Ministry of Finance, in an effort to address farmers’ ongoing issues.

According to Finance Secretary Toyam Raya at a program on Friday, the aforementioned sum will be about Rs 11 billion higher than the government’s anticipated expenditure of Rs 38.50 billion for the current fiscal year. .

Every year, the government issues a lofty proclamation promising farmers a timely and adequate supply of agricultural inputs. But almost always, the government breaks its word.

The government initially divided just Rs 15 billion under the heading in the budget announcement for the fiscal year 2022–2023. Later, the government allocated an additional Rs 23.50 billion.

331,500 tons of agricultural inputs were estimated to be purchased with the sum. The government, however, has been unable to bring in the required amount during planting season due to the holdup in moving the official process forward. .

520,000 tons are needed domestically each year for chemical fertilizers. Many farmers are forced to buy fertilizers at higher costs because they are unable to receive the subsidised fertilizers in a timely manner.

Fiscal Nepal |
Sunday April 9, 2023, 08:50:28 AM |

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