Govt approves proposal for Deep Ocean Mission

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 in New Delhi Wednesday, 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.