TAD NewsDesk, NEW DELHI: On September 27, the NCDC announced the sanction of Rs. 19944 crores to Haryana, Telangana and Chhattisgarh as the first instalment of Kharif season 2020-21. Taking steady steps towards assisting farmers, the government also announced a boost in Minimum Support Price (MSP) of 14 Kharif crops, to ease the financial strain caused by COVID lockdown.
National Cooperative Development Corporation is the apex financing organization of the Union Agriculture Ministry.
“NCDC has sanctioned as first instalment, funds amounting to Rs 19,444 crore to the states of Chhattisgarh, Haryana and Telangana for Kharif paddy procurement under Minimum Support Price (MSP) operations,” an official statement said.
The Rabi crops saw a hike of 4.3% in the MSP while the Kharif crops were awarded a 4.7 per cent increase. The bonus MSP coupled with the record-breaking surplus of 301 million tonnes of bumper Kharif crop this year, farmers will gain additional liquidity of Rs 50,000 crore.
The beneficial increase in MSP seems to be an affirmative response by the government on account of the farmers’ protest over the three Farm Bills last week. In addition to this, the Union I&B Minister Javadekar also declared the sanction of Rs 20,000 crore for providing subordinated debt to stressed Micro, Small and Medium Enterprises (MSMEs).
