Belying the fake narrative that MSP and Procurement would cease in the wake of the Farm Bills, one of the important agencies of Union Agriculture Ministry-NCDC has released huge funds to several states for grain procurement.
National Cooperative Development Corporation (NCDC) the apex financing organization of Union Agriculture Ministry has sanctioned as first instalment amounting to Rs 19944 crores to the states of Chhattisgarh, Haryana and Telangana for Kharif paddy procurement under Minimum Support Price (MSP) operations.
Chhattisgarh gets the highest amount to the tune of Rs 9000 crores. Haryana has been sanctioned Rs 5444 crores and Telangana Rs 5500 crores, reads a press release mailed by co-operative lender NCDC.
These amounts are supposed to assist the States or the State Marketing Federations in undertaking paddy procurement operations in a timely manner through their respective cooperative organizations.
The timely step by NCDC will help the state agencies start procurement operations in the right earnest. It will provide the much-needed support to farmers to sell their produce at the government notified minimum support price, say market experts.
“This proactive step by NCDC during the COVID pandemic will give the much-needed financial support to farmers of these three states who account for nearly 75% of production of paddy in the country,” asserted the NCDC statement.
Speaking on the occasion, Managing Director, NCDC, Mr Sundeep Nayak said, in response to the clarion call given by Hon’ble 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.