NCDC sanctions Rs 19,444 crores in first installment for MSP operations support to 3 States during Kharif season 2020-21

New Delhi [India], September 27 (ANI): The National Cooperative Development Corporation (NCDC) has sanctioned Rs 19,444 crores as the first installment to the states of Chhattisgarh, Haryana and Telangana for Kharif paddy procurement under Minimum Support Price (MSP) operations, according to a release by the Ministry of Agriculture & Farmers Welfare.
The ministry said that these amounts have been sanctioned to assist the States/ State Marketing Federations in undertaking paddy procurement operations in a timely manner through their respective cooperative organizations.
Chhattisgarh gets the highest amount to the tune of Rs 9,000 crores, Haryana has been sanctioned Rs 5,444 crores and Telangana Rs 5,500 crores.
This proactive step by 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 the production of paddy in the country, read the release.
The ministry said that the timely step will help the state agencies start procurement operations immediately and it will provide the much-needed support to farmers to sell their produce at the government notified minimum support price.
Sundeep Nayak, Managing Director, NCDC said that the 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 in response to the clarion call given by Prime Minister Narendra Modi. (ANI)