To boost the country’s current economy, the finance minister of India, Nirmala Sitharaman has announced a ₹65,000 crore fertilizer subsidy for farmers as part of her stimulus package. According to her statement ₹65,000 crores is being provided to ensure a stable and adequate availability of fertilizers to the farmers and to enable its timely accessibility in the upcoming crop season.

An additional outlay of ₹10,000 crores will also be provided for PM Garib Kalyan Rozgar Yojana; in the current financial year. These stimuli, according to her, will be able to accelerate the growth of the rural economy. Apart from that, ₹3,000 crores will be released to Export-Import (EXIM) Bank of India for the promotion of ‘Project Exports’ through lines of credits.

The EXIM Bank extends lines of credits (LOC) on behalf of the government of India; as assistance to the developing countries under Indian Development and Economic Assistance Scheme (IDEAS) Scheme.