Amid opposition to agricultural legislation, the government procured agricultural products worth Rs 1.06 lakh crore in the current season under the MSP

New Delhi, dated 19 January 2021, Tuesday

In 2020-21, the government has continued to purchase agricultural produce from farmers under MSP i.e. Minimum Support Price.

At present, the government has so far procured agricultural products worth Rs 1.06 lakh crore from various states of the country, including Punjab and Haryana, benefiting about 80 lakh farmers.

Whenever agriculture is good in the country and production increases, there is a fear of falling prices and to curb this decline, the government buys major agricultural products from farmers at a minimum support price so that farmers are not harmed.

The government had procured 453.65 lakh metric tonnes of farm produce last season and this time it has procured an average of 565 lakh metric tonnes. 202 metric tonnes of farm produce has been procured from Punjab alone which is about 35 per cent of the total procurement.