December 10, 2019 | Investopaper
The government is preparing to reduce the subsidy that is provided to the farmers under the PM Agriculture Modernisation Project (PMAMP). The Ministry of Finance has directed to forward the process to reduce the subsidy to the farmers under PMAMP.
In order to revise the framework of PMAMP, the Ministry of Agriculture and Livestock Development (MoALD)is in the process of doing so and already formed a committee to conduct necessary studies of the PMAMP framework. Further, the spokesperson for MoALD said, “Among other provisions, we are also thinking of reducing PMAMP subsidy for farmers involved in fruits, vegetables, flowers, and livestock farming.” Under the PMAMP framework, the farmers could receive up to 80 percent subsidy previously but now Finance Ministry has asked MoALD to cut the subsidy to 50 percent this year.
Likewise, Mr. KC also said that most of the PMAMP work depend on the central government. Since the country has gone into the federal system, MoALD is also thinking of distributing the work responsibility of PMAMP.