MSP regime has undergone sea change, says FM

Finance Minister Nirmala Sitharaman stated the Minimum amount Help Selling price (MSP) regime has undergone a sea change and the raise in procurement has resulted in substantial increase in payments to farmers.

This is even as several farmer groups carry on to stage protest on the borders of Delhi looking for lawful assurance for MSP and repeal of the farm guidelines.

“Our authorities is committed to the welfare of farmers. The MSP regime has undergone a sea change to guarantee cost that is at least 1.5 periods the charge of production across all commodities. The procurement has also continued to raise at a constant rate. This has resulted in raise in payment to farmers significantly,” Sitharaman stated presenting the Finances.

The community procurement of crops such as paddy, wheat, pulses and cotton has jumped significantly about the past 8 years. Considering that 2013-14, the payments designed to paddy and wheat growers has far more than doubled, whilst in circumstance of pulses it has enhanced by far more than 40 periods on increase in procurement and MSP.

Total total compensated to wheat farmers stood at ₹75,000 crore in 2020-21 as compared to ₹33,874 crore in 2013-14. The variety of wheat increasing farmers who benefited enhanced to 43.36 lakh in 2020-21 as towards 35.fifty seven lakh in 2019-twenty.

In circumstance of paddy, the total compensated to growers enhanced to ₹1,forty one,930 crore in 2019-twenty as compared to ₹63,928 crore in 2013-14. “Even superior, in 2020-21, this is further more estimated to raise to ₹172,752 crore,” she stated. The variety of paddy farmers benefited enhanced to 1.54 crore in 2020-21 from 1.2 crore in 2019-twenty.

Pulses growers been given ₹10,530 crore throughout 2020-21 as towards ₹236 crore in 2013-14. Equally, ₹90 crore was compensated in 2013-14 to cotton farmers, whilst ₹25,974 crore has been compensated in 2020-21 as of January 27, Sitharaman stated.