29.7 C
New Delhi
Tuesday 22 October 2019
India Govt to soon announce new mechanism to ensure MSP...

Govt to soon announce new mechanism to ensure MSP for farmers

In his Budget 2018 speech, Finance Minister Arun Jaitley had announced that think-tank Niti Aayog in consultation with central and State governments will put in place a fool-proof mechanism to ensure farmers get the benefit of the MSP

-

- Advertisment -

New Delhi: The government will soon announce a new mechanism to ensure that farmers get the minimum support price (MSP) if market prices fall below the benchmark rate, Minister of State for Agriculture Gajendra Singh Shekhawat said on Friday.

The minister said the government has increased the MSP of Kharif (summer-sown) crops substantially and farmers community are now happy with this decision.

Asked when the government will come up with a new mechanism to ensure MSP to farmers, Shekhawat said: “it will be announced soon”.

The minister was speaking on the sidelines of ‘Agriculture Growth Summit 2018’ organised by event management firm E3 Integrated.

In his Budget 2018 speech, Finance Minister Arun Jaitley had announced that think-tank Niti Aayog in consultation with central and State governments will put in place a fool-proof mechanism to ensure farmers get the benefit of the MSP.

Sources had earlier said the Centre may have to bear Rs 12,000-15,000 crore annually to compensate farmers in case prices fall below the MSP in various crops, except rice and wheat being already procured by State-run Food Corporation of India (FCI).

Senior officials of Niti Aayog has recently made a presentation before the prime minister on the proposed procurement mechanism and its financial implication.

Niti Aayog has proposed that States should be given the option of three models —Market Assurance Scheme (MAS), Price Deficiency Procurement Scheme (PDPS) and Private Procurement and Stockists Scheme.

Addressing the summit, Shekhawat stressed that the agriculture and MSME (Micro, Small & Medium Enterprises) sectors need to work together for boosting processing capacity so that India’s share in global market increases.

“We have moved from food deficit to food sufficient to food surplus country. We are the major producer in a large number of agriculture commodities,” the minister said.

Therefore, he said, the collaboration of farmers and MSME has become necessary.

Subscribe to our newsletter

You will get all our latest news and articles via email when you subscribe

The email despatches will be non-commercial in nature
Disputes, if any, subject to jurisdiction in New Delhi

Leave a Reply

Opinion

Aaditya Thackeray, Shiv Sena’s Existential Gambit

With leaders deserting Shiv Sena or debilitated with age, the party's footprint shrinking and Uddhav lacking Balasaheb's charisma, Aaditya had to step in to maintain the dynasty that has mostly been betrayed when politicians not from the Thackeray family were trusted

Karva Chauth: Faith, legend behind viewing the moon through a sieve

The legend and Karva Chauth rituals vary across Rajasthan, Uttar Pradesh, Himachal Pradesh, Madhya Pradesh, Haryana, Punjab, Delhi and, in south India, Andhra Pradesh

Pakistan-Occupied Kashmir, Here We Come!

Study Wuhan and Mamallapuram in the backdrop of the fact that things are not quite working out in China-Pakistan economic relations, notwithstanding the urge of the communist state to contain India and that of the Islamic state to challenge it

Slowdown Has Reasons Other Than GST, Demonetisation

When all economic sectors decline, the mood of the market turns sombre, turning investors all the more reluctant to pump in money; the interdependence of industries means that the slowdown suffered by one would affect many

Where China & India, Resisting & Improving Democracy, Meet

What you see in Hong Kong is China resisting democracy; what you see in Kashmir is India promoting it; a reasonably capitalist China does not offer freedom politically but India, held back at times by the choice of the people, is still opening up; there could be a point of convergence as the two nations move in opposite directions
- Advertisement -

Elsewhere

Terrorist camps reactivated along LoC; Army on vigil

Camps were built in many new places too, but they did not last long as terrorist groups have repeatedly changed their locations

Kartarpur Corridor: Pakistan ready for talks on India’s terms

India and Pakistan had earlier reached an agreement on the Kartarpur Corridor except on the condition of service charges for the pilgrims

Killers of Kamlesh Tiwari spotted; Ashfaq, Moin elusive

While the plot was hatched in Gujarat, those arrested from Surat were conspirators; police are pursuing the killers spotted in Shahjahanpur

Aaditya Thackeray, Shiv Sena’s Existential Gambit

With leaders deserting Shiv Sena or debilitated with age, the party's footprint shrinking and Uddhav lacking Balasaheb's charisma, Aaditya had to step in to maintain the dynasty that has mostly been betrayed when politicians not from the Thackeray family were trusted

The curious case of Bangladeshi beard turning saffron

While the beard underscores a Bangladeshi's Muslim identity where fashion is otherwise taboo, they are encouraged by the fact that Prophet Mohammed had set a precedent

You might also likeRELATED
Recommended to you

%d bloggers like this: