Home Business NCDC Sanctions Money To Three States For Paddy Procurement at MSP

NCDC Sanctions Money To Three States For Paddy Procurement at MSP

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The National Cooperative Development Corporation(NCDC) sanctioned Rs 19,444 crore as the first instalment to Haryana, Telangana and Chhattisgarh of conquering and carrying out Kharif paddy operation at the minimum support price.

The timely step would help the state agencies in starting procurement operations immediately, stated by an official statement.

NCDC is an apex financing organization of the Union Agriculture Ministry.

NCDC sanctioned the first instalment, amounting Rs 19,444 crore to the states of Chhattisgarh, Haryana and Telangana for Kharif paddy procurement under Minimum Support Price operations,’ as per the official Statement.

Chhattisgarh received the highest amount of Rs 9,000 crore whereas Haryana has been sanctioned Rs 5,444 crore and Telangana Rs 5,500 crore.

The amount that has been sanctioned to assist the state Marketing Federations in undertaking paddy procurement operations is promptly through their respective cooperative organizations.

This proactive step by NCDC during the COVID pandemic would give much needed financial support to farmers of these state who account for nearly 75 per cent of the production of paddy in the country.

NCDC MD Sundeep Nayak said the company is ready to assist more States in carrying out MSP operations for giving fair value to farmers in the light of farm-related legislations.

Written By- Mousami Jena
Image Courtsey- Google

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