Perceived agriculture budget decrease due to lower fertilizer prices: FinMin Pun

Published On: May 29, 2024 07:30 PM NPT By: Republica | @RepublicaNepal

KATHMANDU, May 29: Finance Minister Barsha Man Pun has clarified that the apparent decrease in the agriculture budget is due to the reduced prices of chemical fertilizers in the international market.

During a press conference on Wednesday, Minister Pun said that the subsidy for fertilizers was allocated after consultations with the Ministry of Agriculture. "We have imported more fertilizer than last year, ensuring a sufficient supply," he said.

The perceived reduction in the agriculture budget coincides with the announcement of a decade of investment in agriculture, prioritizing new programs. Minister Pun said that the commercialization of agriculture requires joint efforts from the private sector, farmers, and the government.

For the upcoming fiscal year 2024/25, the government has allocated Rs 57.29 billion for the Ministry of Agriculture. This amount is Rs 1.69 billion less than the current year's allocation of Rs 58.98 billion.