Rs. 19,444 cr sanctioned for MSP operations

NewsBharati    28-Sep-2020
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New Delhi, Sept 28: Amid the ongoing protests over the agriculture farm bills, the National Cooperative Development Corporation (NCDC), the apex financing organization of the Union Agriculture Ministry has sanctioned Rs 19,444 crore for Minimum Support Price (MSP)  operations support to three states during Kharif season 2020-21.
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This is the first installment to Haryana, Telangana, and Chhattisgarh for carrying out the Kharif paddy procurement operation under MSP operations. "These amounts have been sanctioned to assist the States/ State Marketing Federations in undertaking paddy procurement operations in a timely manner through their respective cooperative organizations." the Agricultural Ministry said in a release.
Chhattisgarh gets the highest amount to the tune of Rs 9,000 crores. Haryana has been sanctioned Rs 5,444 crores and Telangana Rs 5,500 crores. Further, it added that these amounts are a proactive step by NCDC during the COVID-19 pandemic which will give the much needed financial support to farmers of these three state who account for nearly 75% of the production of paddy in the country.
The timely step will help the state agencies start procurement operations immediately. It will provide the much-needed support to farmers to sell their produce at the government notified MSP.
NCDC Managing Director Sundeep Nayak said that in response to the clarion call given by Prime Minister Narendra Modi, the company is ready to assist more States in carrying out MSP operations for giving fair value to farmers in the light of historic farm-related legislations.
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