‘Cotton Corp to procure 125 lakh bales’

The federal government, reeling under intense farmer protest,s particularly in Punjab and Haryana, has introduced increased procurement targets for rice and cotton for the duration of the present-day kharif internet marketing period and stated that it has put in in excess of ₹1.ninety lakh crore in 2019-twenty for procuring rice and wheat on MSP.

Announcing cotton procurement targets for the period, for the first time, Textile Secretary Ravi Capoor mentioned the condition-owned Cotton Corporation of India (CCI) would procure a hundred twenty five lakh bales (one particular bale is one hundred seventy kg) of cotton, which is twenty lakh bales a lot more than the 105 lakh bales procured in the previous period.

Capoor, who briefed the media along with Agriculture Secretary Sanjay Agarwal, Food items and Public Distribution Secretary Sudhanshu Panday and Food items Corporation of India (FCI) CMD, DV Prasad, confident the farmers that the CCI would be eager to procure any amount of high quality cotton that farmers deliver.


Procurement assurance

Equally, FCI main Prasad mentioned rice procurement focus on for the present-day kharif internet marketing period is set at 497 lakh tonnes (lt), which is eighteen per cent a lot more than 420 lt procured in the previous internet marketing period. Besides, there has been a considerable maximize in procurement of rice for the duration of the 2019-twenty rabi internet marketing period (RMS). As in contrast to sixty four lt in the corresponding period, rice procured for the duration of the 2019-twenty RMS was virtually ninety lt.

In the present-day period, 15,26,534 MT of paddy having MSP benefit of about ₹2,882 cores has been procured from 1,27,832 farmers of Haryana, Punjab, Chandigarh, Uttar Pradesh, Kerala and Tamil Nadu as on October 6.

The federal government fielded the leading officials mainly to allay the problems expressed by the agitating farmers that the federal government may possibly do absent with the MSP regime with the latest passage of three farm Expenses.

Reassuring the farmers, the officials mentioned the Narendra Modi government’s report on procurement has been exemplary.

Modi govt report

The FCI main mentioned that the federal government put in ₹1,ninety,380 crore for procuring wheat and rice in 2019-twenty as versus ₹1,33,617 crore allocated in 2016-17. Besides, the federal government payout for rice and wheat procurement in the present-day money yr so much was ₹1,twenty,one hundred fifty five crore, which is a whopping 53 per cent a lot more than the corresponding interval in the previous fiscal.

In accordance to Capoor, the CCI has earmarked a sum of ₹35,000 crore for procuring cotton this yr, which is ₹6,five hundred crore a lot more than that in the previous yr.

Agriculture Secretary Agarwal mentioned the overall area under kharif crop this is 1,095 lakh hectares (lh), 10 lh a lot more than the previous report of 1,085 lh. He mentioned the area under oilseeds, pulses and rice has long gone up by eighteen lh, 7 lh and 4 lh, respectively, as in contrast to past kharif period.

He mentioned there has been considerable maximize in procurement targets set and realized by the Modi federal government in contrast to the previous UPA federal government. In paddy procurement alone, the federal government transferred ₹4.95 lakh crore to farmers for the duration of the past 5 a long time, two.4 situations a lot more than the ₹2.06 lakh crore put in for the duration of the 5 a long time of the UPA-two. Equally, the Modi federal government put in ninety eight situations and 17 situations a lot more cash on procurement of pulses and oilseeds, respectively, for the duration of the similar interval as comapared to the next UPA regime.

Next Post

4 important things Vanguard investors have in common

There are 4 core investing principles at the heart of Vanguard’s philosophy: goals, stability, managing prices, and self-discipline. Let’s choose a nearer glimpse to see how our investors are putting them into action. 1. Ambitions Each and every effective investing journey commences with a set of obvious goals. Ambitions arrive […]