The government has achieved a milestone in the procurement of paddy grown in the kharif summer-sown season, surpassing the target of 600 lakh metric tonnes (LMT) for the Kharif Marketing Season (KMS) 2023-24. This has benefitted 75 lakh farmers across the country, who have received more than Rs.1,30,000 crores as minimum support price (MSP) for their produce.
Paddy procurement started in October 2023
The paddy procurement operations started in October 2023 and have been progressing smoothly in the major producing states of Punjab, Haryana, Uttar Pradesh, Telangana, Andhra Pradesh, Chhattisgarh and Odisha. According to the latest data from the Food Corporation of India (FCI), as of February 2, 2024, over 603 LMT of paddy have been procured for the central pool, which is equivalent to about 403 LMT of rice.
Central pool holds more than 525 LMT of rice
With the current level of procurement, the central pool holds more than 525 LMT of rice against the annual requirement of approximately 400 LMT under various welfare schemes such as Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) and Targeted Public Distribution System (TPDS). The government has also ensured that adequate arrangements are in place for the delivery of rice to the states and union territories as per their allocation.
Government gears up for wheat procurement
The government is also gearing up for the procurement of wheat during the ensuing Rabi Marketing Season (RMS) 2024-25, which is expected to commence in March 2024. The government has fixed the MSP for wheat at Rs.2,015 per quintal for RMS 2024-25, which is an increase of Rs.40 per quintal over last year’s MSP. The government has also taken various measures to facilitate smooth and hassle-free procurement of wheat from farmers in consultation with the major wheat producing states.
Paddy procurement reflects government’s commitment to farmers
The successful procurement of paddy during KMS 2023-24 reflects the government’s commitment to provide remunerative prices to farmers for their crops and ensure food security for the nation. The government has also transferred the MSP amount directly into the bank accounts of farmers through online mode, ensuring transparency and accountability in the procurement process.