Agri Buzz: Food Security Bill To Provide MSP To More Farmers (12:46, 26 Aug 2013) The proposed Food Security Bill would provide Minimum Support Price (MSP) to more farmers, according to a latest press release from the Ministry of Consumer Affairs. In the wake of the increased requirement of foodgrains for implementation of the proposed Food Security Act, procurement operations will be further extended and more farmers will get the benefits of MSP operations. Foodgrain requirement for the implementation of the bill is estimated 614.3 lakh tonnes as against the existing requirement of 563.7 lakh tonnes for Targeted Public Distribution System. After implementation of the proposed Act, about 75 % persons in villages will get wheat at the rate of Rs. 2 and rice at the rate of Rs. 3 per kg. But farmers will get more for their produce i.e. Rs.12.85 per kg for wheat and Rs.12.50 per kg for paddy as minimum support price. Access to highly subsidized foodgrains to small farmers under proposed Food Security Act and assured MSP for their produce will ease the burden on their earnings and allow them the option to spend the money so saved on other necessities, says the press release. Powered by Commodity Insights
Posted on: Mon, 26 Aug 2013 09:12:37 +0000
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