April 20, 2024


The business lovers

MSP regime has undergone sea change, says FM

Finance Minister Nirmala Sitharaman explained the Minimal Guidance Rate (MSP) regime has undergone a sea transform and the maximize in procurement has resulted in substantial increase in payments to farmers.

This is even as different farmer groups continue to phase protest on the borders of Delhi in search of legal assure for MSP and repeal of the farm legislation.

“Our authorities is fully commited to the welfare of farmers. The MSP regime has undergone a sea transform to assure rate that is at the very least 1.5 occasions the charge of generation across all commodities. The procurement has also ongoing to maximize at a continuous tempo. This has resulted in maximize in payment to farmers substantially,” Sitharaman explained presenting the Spending budget.

The community procurement of crops this sort of as paddy, wheat, pulses and cotton has jumped substantially more than the previous eight several years. Due to the fact 2013-14, the payments produced to paddy and wheat growers has additional than doubled, though in scenario of pulses it has amplified by additional than forty occasions on increase in procurement and MSP.

Complete total paid out to wheat farmers stood at ₹75,000 crore in 2020-21 as compared to ₹33,874 crore in 2013-14. The number of wheat rising farmers who benefited amplified to 43.36 lakh in 2020-21 as versus 35.57 lakh in 2019-twenty.

In scenario of paddy, the total paid out to growers amplified to ₹1,41,930 crore in 2019-twenty as compared to ₹63,928 crore in 2013-14. “Even far better, in 2020-21, this is additional believed to maximize to ₹172,752 crore,” she explained. The number of paddy farmers benefited amplified to 1.fifty four crore in 2020-21 from 1.2 crore in 2019-twenty.

Pulses growers obtained ₹10,530 crore all through 2020-21 as versus ₹236 crore in 2013-14. In the same way, ₹90 crore was paid out in 2013-14 to cotton farmers, though ₹25,974 crore has been paid out in 2020-21 as of January 27, Sitharaman explained.