Odisha Cabinet approves Rs 700 crore for procuring, propositioning fertiliser

Bhubaneswar: Odisha Cabinet Chaired by Chief Minister Naveen Patnaik on Thursday approved a budget of Rs 700 crore for five years from 2023-24 to 2027-28 for procurement and propositioning of fertilisers in the state.
Presently about 20 to 25 per cent of the total fertiliser requirement of the state is procured and propositioned through Odisha state Cooperative Marketing Federation Ltd(OSCMF) and Odisha Agro Industries Corporation lTD (OAIC).
For the purpose Odisha government has been providing corpus fund as interest free loan of Rs 90 crore and Rs 10 crore toOSCM AND OAIC respectively.
The corpus fund for OSCMF Ltd was increased from Rs 90 crore to Rs 150 crore excluding the current year 2023-24 considering the present fertiliser situation in the state and taking into consideration the volume and mode of business.
The provision of corpus fund for OAIC Ltd was dropped off from the year 2024-25.
In view of the ehnancement, the state cabinet approved the estimated budget of Rs 700 crore for five years from 2023-24 to 2027-28. It is targetted to preposition fertiliser to a tune of 50 per cent of the state requirement through OSCMF and its availability to farmers at right time and right price through authorised dealers mainly cooperative societies.