NCDC sanctions Rs 19444 crores in first instalment for MSP operations support to States

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27 September 2020, New Delhi, IN: National Cooperative Development Corporation (NCDC), the apex financing organization of Union Agriculture Ministry has sanctioned as first instalment, funds amounting to Rs 19444 crores to the states of Chhattisgarh, Haryana and Telangana for Kharif paddy procurement under Minimum Support Price (MSP) operations. 

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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 9000 crores. Haryana has been sanctioned Rs 5444 crores and Telangana Rs 5500 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% of production of paddy in the country. The timely step will help the state agencies start procurement operations immediately. It will provide the much needed support to farmers to sell their produce at the government notified minimum support price.

Managing Director, NCDC, Mr Sundeep Nayak said that in response to the clarion call given by Hon’ble Prime Minister, 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.

Photo credit: agrilifetoday on VisualHunt / CC BY-NC-ND

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