NCDC sanctions Rs 19,444 crore to three states for paddy procurement at MSP

By: |
September 27, 2020 9:46 PM

The timely step will help the state agencies start procurement operations immediately, an official statement said. NCDC is the apex financing organization of Union Agriculture Ministry.

This proactive step by the NCDC during the COVID pandemic will give the much needed financial support to farmers of these three state who account for nearly 75 per cent of production of paddy in the country. (file image)

The National Cooperative Development Corporation (NCDC) has sanctioned Rs 19,444 crore as the first instalment to Haryana, Telangana and Chhattisgarh for carrying out kharif paddy procurement operation at the minimum support price.

The timely step will help the state agencies start procurement operations immediately, an official statement said.

NCDC is the apex financing organization of 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.

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.

The amount has been sanctioned to assist the States/State Marketing Federations in undertaking paddy procurement operations in a timely manner through their respective cooperative organisations.

This proactive step by the NCDC during the COVID pandemic will give the much needed financial support to farmers of these three state who account for nearly 75 per cent of production of paddy in the country.

NCDC Managing Director Sundeep Nayak said the company is ready to assist more States in carrying out MSP operations for giving fair value to farmers in the light of historic farm related legislations.

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