Speed Post News Network
New Delhi : National Cooperative Development Corporation (NCDC), the apex financing organisation of Union Agriculture Ministry, 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.
The fund has been sanctioned to assist the States/ State Marketing Federations in undertaking paddy procurement operations in a timely manner through their respective cooperative organisations. Chhattisgarh gets the highest amount to the tune of Rs 9,000 crore. Haryana has been sanctioned Rs 5,444 crore and Telangana Rs 5,500 crore, according to a PIB release.
This proactive step by NCDC during the COVID pandemic will give the much needed financial support to farmers of these three states which account for nearly 75% of 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 minimum support price.
Managing Director, NCDC, Sundeep Nayak, said that in response to the clarion call given by PM Narendra Modi, 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.