Sri Lanka farmers given Rs7.0bn fertilizer handout for season
ECONOMYNEXT – Sri Lanka paddy farmers are being given 7 billion rupees as a fertilizer subsidy during the current cultivation season, at the rate of 25,000 rupees per hectare, the finance ministry said.
The Treasury has released 5.5 billion rupees to the agriculture department already and 1.5 billion rupees will be released on December 01, the statement said.
Farmers are facing a drought this year and officials have warned them ro
Paddy farmers will get a handout of 25,000 rupees per hectare in the Maha cultivation season from September to March.
The money will be given as a cash grant. The current administration turned the fertilizer subsidy into a cash grant which is expected to reduce fertilizer over-use and contamination of water supplies.
A sum of 55,000 rupees had been allocated for fertilizer subsidies next year, the finance ministry said.
Sri Lanka has raised taxes to finance higher state spending in the current budget. (Colombo/Dec21/2016)