Which of the following statements are true in context of New Urea Policy 2015 1 It wi...........

Economic Affairs Agricultural Policy and Growth

Download Solution PDF

Which of the following statements are true in context of New Urea Policy 2015?

1) It will be applicable for the next four financial years

2) It will increase indigenous urea production

3) It is likely to promote energy efficiency in urea units

4) It is mandatory for urea producers to produce a minimum of 75 percent of domestic urea as Neem coated

Codes

1, 2 and 3

2 and 3

2, 3 and 4

1, 2, 3 and 4

छोटे Courses बड़े Results

Master Agricultural Policy and Growth

Prepare through Micro-courses

Try Now

Explanation:

All the statements are correct.

New Urea Policy-2015 (NUP-2015) has been notified by Department of Fertilizers on 25th May, 2015 with the objectives of maximizing indigenous urea production; promoting energy efficiency in urea production; and rationalizing subsidy burden on the government.

It is expected that the domestic urea sector would become globally competitive in terms of energy efficiency over a period of three years. On the basis of actual energy consumption and preset norms, the units have been divided into three groups and revised energy consumption norms have been fixed for next three financial years and target energy norm have been fixed for 2018-19. It will drive urea units to select better technology and different measure to reduce energy consumption.

The higher energy efficiency due to aforesaid measure will reduce subsidy bill. It is expected that there would be reduction in the subsidy burden of the government in two ways - reduction in specific energy consumption norms and import substitution on account of higher domestic production.