Team Adda247 and BankersAdda are here with a Current Affairs Special Series. In this series, candidates will be introduced to current affairs topics daily, which will not only improve their general awareness but also will ensure that the candidates do not lack in any current affairs topic. Today’s Current Affairs topic is Wheat Procurement by Centre from States grew by 30%.
Wheat Procurement by Centre from States grew by 30%
Wheat Procurement from States like Haryana, Uttar Pradesh, Madhya Pradesh, Rajasthan, Himachal Pradesh, Delhi, and Jammu & Kashmir at MSP (Minimum Support Price) by the Centre has recorded a substantial growth of nearly 30 percent over the corresponding period of last year.
Ministry of Consumer Affairs, Food, and Public distribution confirmed that in the current Rabi Marketing Season of 2021-22 over 366 lakh metric tonnes of Wheat have been purchased at MSP from these states benefitting nearly 37 lakh 15 thousand farmers so far. The Ministry added that more than Rs.72, 400 crore have been transferred to the farmers for these procurements.
According to, Food & Public Distribution ministry Paddy procurement in the ongoing Kharif Marketing season of 2020-21 is continuing smoothly in the procuring States with the purchase of over 742 lakh Metric Tonnes of paddy.
It has added that about 1 crore 11 lakh farmers have already benefitted from these procurement operations with an MSP value of over Rs.1, 40,165 crores.
- What is procurement and how it works:
- The government of India announces the minimum support prices (MSP) for procurement on the basis of the recommendations of the Commission of Agricultural Costs and Prices before the harvest during each Rabi/Kharif Crop season.
- The government has an objective of ensuring MSP to the farmers and availability of food grains to the weaker sections at affordable prices.
- It assures effective market intervention thereby keeping the prices under check and also adding to the overall food security of the country.
- FCI (Food Corporation of India) is the nodal agency which undertakes procurement of wheat and paddy under price support scheme.