The MSP scheme has ensured 1.5 times more prices for farmers: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman said on Monday that the minimum support price (MSP) regime had undergone a change to guarantee farmers a price at least equal to 1.5 times the cost of producing all commodities .

In her third budget speech in Lok Sabha, Ms. Sitharaman said: “Our government is committed to ensuring the welfare of farmers. The MSP scheme has undergone a change to ensure a price of at least $ 1, 5 times the cost of production of all products. Also continued to increase at a steady rate, which resulted in a substantial increase in payment to farmers. “

Farmers have been protesting at the various borders of the national capital since November 26 against the three newly enacted agricultural laws.

Elaborating on the increase in the payment of farmers, the Minister of Finance indicated that in case of wheat, the amount paid to farmers in 2020-21 was Rs 75,875 cr, against Rs 62,802 cr in 2019-20.

In the case of paddy, the amount paid to farmers was estimated at Rs 1,72,752 cr against Rs 1,41,930 cr in 2019-20, while in the case of pulses, the amount in 2020-2021 was estimated at Rs 10,530 cr, compared to Rs 8,285 cr in 2019-20.

She further informed that thousands of mandis will be integrated into eNAM (national agricultural market).

“About 1.68 crore is recorded and a commercial value of Rs 1.14 crore has been achieved through e-NAM, the national agricultural market. Given the transparency and competitiveness of this eNAM in the agricultural market, Thousands of additional mandi will be integrated with eNAM, ”she said during her speech.

Sitharaman also announced that agricultural infrastructure funds will be made available to the Agricultural Commodity Market Committees (APMCs) to increase their infrastructure.

Recalling Prime Minister Narendra Modi’s “Swamitva” program, under which a register of rights is provided to village owners, Sitharaman reported that up to 1.80 lakh owners of 1,241 villages had received property cards. It also proposed to extend this program in 2021-2022 to cover all the states and territories of the Union.

Regarding animal husbandry, she announced: “To provide adequate credit to our farmers, I have raised the agricultural credit target to 16.5 lakh this year. We will focus on the flow of credit for the animal husbandry, dairies and fishing. “

It also proposed substantial investments in the development of modern fishing ports and landing centers. Five major fishing ports – Kochi, Chennai, Visakhapatnam, Paradip and Petuaghat will be developed as hubs of economic activity.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

Dear reader,

Business Standard has always strived to provide up-to-date information and commentary on developments that are of interest to you and which have broader political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these difficult times stemming from Covid-19, we continue to remain committed to keeping you informed and up to date with credible news, authoritative opinions and cutting-edge commentary on relevant current issues.
However, we have a demand.

As we fight the economic impact of the pandemic, we need your support even more so that we can continue to provide you with higher quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscribing to our online content can only help us achieve the goals of providing you with even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

Digital editor

About Norma Wade

Check Also

The car loan market is still bananas and it’s not right

Photo: AP (AP) Every month or so, sometimes even faster than that, there will be …

Leave a Reply

Your email address will not be published.