PM expresses concern over high import bill of edible oils, fertilisers; calls for action in mission mode

 New Delhi, Oct 17 (PTI) Prime Minister Narendra Modi on Monday expressed concern over India's high import bill for edible oil, fertilisers and crude oil, and said there is a need to work in a mission mode to make the country self-reliant and reduce import dependence.

With international energy prices soaring after the war in Ukraine, India will spend a record Rs 2.5 lakh crore to subsidise fertilizer for farmers. Another USD 120 billion is spent on importing crude oil and the two together are the biggest drain on exchequer.

Addressing PM Kisan Samman Sammelan 2022 event here, Prime Minister released the 12th installment of the cash support that the government had launched ahead of the 2019 general elections, and launched a scheme to brand all subsidised fertiliser under one brand 'Bharat' to eliminate product differentiation and confusion multiple brands cause in the minds of farmers.