The tweet reads”@drusawsthi#iffco requests #goi to give fertilizer subsidy directly to farmers.let industries compete to provide better nutrients and services to farmers.”
Government of India has toyed with the idea of transferring subsidies in the account of the beneficiaries for a long time. The arrival of Nandan Nilkeni and the much-touted Aadhar card were aimed at this effect only. But the matter seems to have gone into limbo as the new government does not look excited with the Aadhar idea.
IFFCO have had a history of subsidy woes. Though it transfers subsidies to farmers promptly the government of India is not equally prompt to honour its commitment. Sources say payment to the tune of several hundred crores are still pending with the government leading to fund crunch for the largest fertilizer cooperative of the world many a times.
Ranked high on the list of successful corporate, IFFCO wishes to break free of this subsidy trap and wishes to march ahead. It would also silence them who accuse it of growing on the governmental support, said an insider.
Tweeting further the MD says @drusawasthi “I know a lot of producers would oppose direct transfer of fertilizer subsidy to farmers but IFFCO supports due to national as well as farmers interest.”
Readers must be aware that the number of cooperative societies associated with IFFCO have risen from 57 in 1967 to more than 40,000 at present.
Registered in 1967 as a Multi-unit Co-operative Society it is primarily engaged in the production and distribution of fertilisers. The bylaws of the Society provide a broad frame work for the activities of IFFCO as a cooperative society.