National Cooperative Development Corporation (NCDC), the apex financing organisation of Union Agriculture Ministry, has sanctioned as first instalment, funds amounting to Rs 19,444 crore to the states of Chhattisgarh, Haryana and Telangana for Kharif paddy procurement under Minimum Support Price (MSP) operations.

These amounts have been sanctioned to assist the states and State Marketing Federations in undertaking paddy procurement operations in a timely manner through their respective cooperative organisations. Chhattisgarh gets the highest amount to the tune of Rs 9,000 crore. Haryana has been sanctioned Rs 5,444 crore and Telangana Rs 5,500 crore.

This proactive step by NCDC during the Covid pandemic will give the much-needed financial support to farmers of these three states who account for nearly 75 per cent of production of paddy in the country. The timely step will help the state agencies start procurement operations immediately. It will provide the much-needed support to farmers to sell their produce at the government notified minimum support price.