More than 22 lakh Indian farmers have benefited as Rs 61 lakh crore has been directly credited into their bank accounts for purchasing wheat at minimum support price (MSP).
Procurement of wheat under MSP normally starts from April 1 every year; However, for the convenience of farmers, the date was brought forward by approximately fifteen days this year in most states.
This achievement highlights the government's continued commitment to safeguarding the interests of farmers and ensuring food security for all, according to the official statement.
According to provisional figures collected from various states, Uttar Pradesh and Rajasthan have shown significant improvements in their quantities of wheat procured.
Uttar Pradesh recorded procurement of 9.31 lakh metric tonnes (LMT) compared to 2.20 LMT last year, while Rajasthan achieved 12.06 LMT, compared to 4.38 LMT in the previous season.
The significant quantity of wheat procured has helped the FCI ensure a steady flow of foodgrains to the Public Distribution System (PDS).
This entire procurement process has been instrumental in meeting the annual requirement of approximately 184 LMT of wheat under various welfare schemes including PMGKAY, the Ministry statement added.
The central government declared a minimum support price (MSP) of Rs 2,275 per quintal for wheat for the Rabi marketing season, 2024-25.
The MSP acts as a safety net, ensuring that farmers receive a fair price.
Farmers are also free to sell their food grains on the open market if they find better prices, thus fostering a competitive market environment.
The MSP guarantee and flexibility to sell in the open market have collectively resulted in greater income security for farmers, the official said.
Apart from wheat, during the Kharif marketing season 2023-24, procurement of paddy for the core group crossed 775 LMT, benefiting over one crore farmers by disbursing over Rs 1.74 lakh crore into the bank accounts of these farmers for purchase. of his paddy field in the MSP.
At the current level of rice stocks, the country exceeds not only its buffer stock standards but also all of its annual requirements.
Additionally, procurement during the upcoming Kharif 2024-25 marketing season is likely to begin in October 2024, the statement added.
Procurement of wheat under MSP normally starts from April 1 every year; However, for the convenience of farmers, the date was brought forward by approximately fifteen days this year in most states.
This achievement highlights the government's continued commitment to safeguarding the interests of farmers and ensuring food security for all, according to the official statement.
According to provisional figures collected from various states, Uttar Pradesh and Rajasthan have shown significant improvements in their quantities of wheat procured.
Uttar Pradesh recorded procurement of 9.31 lakh metric tonnes (LMT) compared to 2.20 LMT last year, while Rajasthan achieved 12.06 LMT, compared to 4.38 LMT in the previous season.
The significant quantity of wheat procured has helped the FCI ensure a steady flow of foodgrains to the Public Distribution System (PDS).
This entire procurement process has been instrumental in meeting the annual requirement of approximately 184 LMT of wheat under various welfare schemes including PMGKAY, the Ministry statement added.
The central government declared a minimum support price (MSP) of Rs 2,275 per quintal for wheat for the Rabi marketing season, 2024-25.
The MSP acts as a safety net, ensuring that farmers receive a fair price.
Farmers are also free to sell their food grains on the open market if they find better prices, thus fostering a competitive market environment.
The MSP guarantee and flexibility to sell in the open market have collectively resulted in greater income security for farmers, the official said.
Apart from wheat, during the Kharif marketing season 2023-24, procurement of paddy for the core group crossed 775 LMT, benefiting over one crore farmers by disbursing over Rs 1.74 lakh crore into the bank accounts of these farmers for purchase. of his paddy field in the MSP.
At the current level of rice stocks, the country exceeds not only its buffer stock standards but also all of its annual requirements.
Additionally, procurement during the upcoming Kharif 2024-25 marketing season is likely to begin in October 2024, the statement added.
