Rs 19,444 cr sanctioned for MSP operations

Tribune News Service

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New Delhi, September 27

The National Cooperative Development Corporation (NCDC), the apex financing organisation of the Union Agriculture Ministry, has sanctioned as first installment, funds amounting to Rs 19,444 crore to Chhattisgarh, Haryana and Telangana for the kharif paddy procurement under the minimum support price (MSP) operations, according to an official statement.

The amount has been sanctioned to assist the states/state marketing federations in undertaking paddy procurement operations in a timely manner through their respective cooperative organisations. Chhattisgarh gets the highest amount to the tune of Rs 9,000 crore.

Haryana has been sanctioned Rs 5,444 crore and Telangana Rs 5,500 crore.

This proactive step by the NCDC during the Covid-19 pandemic will give the much-needed financial support to farmers of these three states, which account for nearly 75 per cent of production of paddy in the country. The timely step will help the state agencies start procurement operations immediately. It will provide the support to farmers to sell their produce at the government notified minimum support price.

Managing Director, NCDC, Sundeep Nayak said in response to the clarion call given by the Prime Minister, NCDC, was ready to assist more states in carrying out MSP operations for giving fair value to farmers in the light of historic farm-related legislations.