Home Economy NCDC sanctions Rs.19,444 cr for paddy procurement

NCDC sanctions Rs.19,444 cr for paddy procurement

by BQ News Bureau
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The National Cooperative Development Corporation (NCDC) has sanctioned as first instalment Rs 19,444 crore to Chhattisgarh, Haryana and Telangana for Kharif paddy procurement under Minimum Support Price (MSP) operations.

The amount has been sanctioned to assist the States, State Marketing Federations in undertaking paddy procurement operations. Chhattisgarh gets the highest amount of Rs 9,000 crore. Haryana has been sanctioned Rs 5,444 crore and Telangana Rs 5,500 crore.

This proactive step by NCDC during the COVID pandemic will give the much needed financial support to farmers of these three States that account for nearly 75 per cent of the production of paddy in the country. The timely step will help the State agencies start procurement operations immediately. It will provide the much-needed support to farmers to sell their produce at the government notified MSP.

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