Staff Reporter / NEW DELHI
The Cabinet Committee on Economic Affairs chaired by the Prime Minister Narendra Modi has approved the proposal for Deep Ocean Mission and Nutrient Based Subsidy Rates.
Briefing the media, Union Information and Broadcasting Minister Prakash Javadekar has said that the Cabinet has approved the proposal of the Ministry of Earth Sciences on Deep Ocean Mission. He said, this futuristic decision will give impetus to the Blue Economy by exploring the deep ocean for resources and developing deep-sea technologies for sustainable use of ocean resources. He said, this mission will help in the study of deep ocean biodiversity and minerals. He said, deep sea ocean survey and exploration will be conducted.
Minister of State for Chemicals and Fertilizers Mansukh Mandaviya said that Cabinet has approved the proposal of the Department of Fertilizers for fixation of Nutrient Based Subsidy Rates for phosphorus and potassium fertilizers for the year 2021-22. Terming this historic decision by the Modi Government for the farmers, he said, this will benefit the farmers by providing fertilizer at a reasonable price. He said, the Government provides Rs 900 subsidy on every packet of Urea. He added that a decision has been taken to increase the subsidy for DAP fertilizers from existing Rs 700 to Rs 1200. He said, the estimated additional subsidy burden for such an arrangement will be over Rs 14,000 crore.
The Government has said that the Deep Ocean Mission will prove to be a game changer in the future. India has seven thousand 517 km long coastline. Around 30 per cent of the country’s population live in coastal areas. Ocean is a major economic factor supporting fisheries and aquaculture, tourism, livelihoods and blue trade. Oceans are also a storehouse of food, energy, minerals, medicines. The estimated cost of the Deep Ocean Mission will be over Rs 4000 crore and it will be implemented in a phase-wise manner in five years.
Under the Mission, a manned submersible will be developed to carry three people to a depth of six thousand metre in the ocean. An Integrated Mining System will also be developed for mining Polymetallic Nodules. The exploration studies of minerals will pave the way for commercial exploitation in the near future. Studies and detailed engineering design for offshore Ocean Thermal Energy Conversion powered desalination plants are also envisaged under the Mission. A research vessel for deep ocean exploration would be built in an Indian shipyard which would create employment opportunities. This mission is also directed towards capacity development in Marine Biology which will provide job opportunities.