NCDC sanctions Rs 19,444 Cr for Kharif paddy procurement under MSP

NCDC sanctions Rs 19,444 Cr for Kharif paddy procurement under MSP
The amount have been sanctioned to assist the states and state marketing federations in undertaking paddy procurement operations in a timely manner through their respective cooperative organisations

National Cooperative Development Corporation (NCDC), the apex financing organisation of Union Ministry of Agriculture & Farmers’ Welfare has sanctioned as first instalment, funds amounting to Rs 19,444 crores to the states of Chhattisgarh, Haryana and Telangana for Kharif paddy procurement under minimum support price (MSP) operations.

The amount have been sanctioned to assist the states and state marketing federations in undertaking paddy procurement operations in a timely manner through their respective cooperative organisations. Chhattisgarh will get 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.

This step by NCDC during the COVID pandemic will give the financial support to farmers of these three state who account for nearly 75 percent of production of paddy in the country. The step will help the state agencies to start paddy procurement operations immediately. It will provide support to farmers to sell their produce at the government notified minimum support price.

Sundeep Nayak, Managing Director, NCDC said that NCDC was ready to assist more states in carrying out MSP operations for giving fair value to farmers in the light of farm related legislations.

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