MSP regime has undergone sea change, says FM

Finance Minister Nirmala Sitharaman explained the Minimum amount Assistance Selling price (MSP) routine has gone through a sea change and the raise in procurement has resulted in significant rise in payments to farmers.

This is even as a variety of farmer groups go on to stage protest on the borders of Delhi seeking legal ensure for MSP and repeal of the farm regulations.

“Our federal government is dedicated to the welfare of farmers. The MSP routine has gone through a sea change to guarantee selling price that is at least 1.five moments the value of production across all commodities. The procurement has also continued to raise at a continuous tempo. This has resulted in raise in payment to farmers substantially,” Sitharaman explained presenting the Spending plan.

The public procurement of crops this kind of as paddy, wheat, pulses and cotton has jumped substantially above the previous eight decades. Because 2013-14, the payments created to paddy and wheat growers has much more than doubled, whilst in case of pulses it has improved by much more than forty moments on rise in procurement and MSP.

Complete amount of money paid to wheat farmers stood at ₹75,000 crore in 2020-21 as in contrast to ₹33,874 crore in 2013-14. The variety of wheat expanding farmers who benefited improved to forty three.36 lakh in 2020-21 as versus 35.fifty seven lakh in 2019-20.

In case of paddy, the amount of money paid to growers improved to ₹1,forty one,930 crore in 2019-20 as in contrast to ₹63,928 crore in 2013-14. “Even better, in 2020-21, this is more believed to raise to ₹172,752 crore,” she explained. The variety of paddy farmers benefited improved to 1.54 crore in 2020-21 from 1.two crore in 2019-20.

Pulses growers obtained ₹10,530 crore during 2020-21 as versus ₹236 crore in 2013-14. In the same way, ₹90 crore was paid in 2013-14 to cotton farmers, whilst ₹25,974 crore has been paid in 2020-21 as of January 27, Sitharaman explained.