NITI Aayog discusses three concepts on farm MSP

By: | Published: March 10, 2018 3:21 AM

In the light of the Budget announcement to ensure the minimum support price (MSP) for different agricultural crops, three concepts, including procurement and stocking by private parties, were discussed at a consultative meeting held in the NITI Aayog on Friday.

NITI Aayog, MSP, farm MSP, agricultural crops, budgetIn the light of the Budget announcement to ensure the minimum support price (MSP) for different agricultural crops, three concepts, including procurement and stocking by private parties, were discussed at a consultative meeting held in the NITI Aayog on Friday.

In the light of the Budget announcement to ensure the minimum support price (MSP) for different agricultural crops, three concepts, including procurement and stocking by private parties, were discussed at a consultative meeting held in the NITI Aayog on Friday. “The third option of private procurement and stockist scheme offers great promise as it reduces the fiscal implications for the government, involves private entities as partners in agriculture marketing and improves the competition in the market,” NITI Aayog said in a statement. The first option is related to the Market Assurance Scheme, which proposes procurement by states and compensation for losses up to a certain extent of the MSP after procurement and price realisation out of sale of procured produce. The second option is related to price deficiency procurement scheme. The meeting was chaired by the aayog vice-chairman.

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