LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Government may announce new crop procurement mechanism soon: Sources

According to the sources, the government will incentivise private players for purchasing crops from farmers at the MSP. It may also approve the formula under which the difference between the MSP and the market price will be paid directly by the government.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Government may announce new crop procurement mechanism soon: Sources
Last week, CCEA hiked the minimum support price for paddy by a record 200 rupees per quintal. Representational Image, source: Reuters
Written By: ZeeBiz WebTeam
Updated: Tue, Jul 10, 2018
08:15 pm
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Centre procured over Rs 59-cr Kharif crops till Oct 23 Centre procured over Rs 59-cr Kharif crops till Oct 23
Financial support to farmers from Modi government! Rs 19,444 cr sanctioned in 1st installment for MSP operations support to these states Financial support to farmers from Modi government! Rs 19,444 cr sanctioned in 1st installment for MSP operations support to these states
Modi government raises MSP for rabi, kharif crops for 2019-20 Modi government raises MSP for rabi, kharif crops for 2019-20
Relief for farmers: Modi government mulling to add more crops in MSP list, says Niti Aayog Relief for farmers: Modi government mulling to add more crops in MSP list, says Niti Aayog
Kitchen alert! This daily use item has now become costlier - Here is why Kitchen alert! This daily use item has now become costlier - Here is why

To maximise the reach of Minimum Support Price (MSP) hike, government may announce a new crop procurement mechanism soon.Sources aware of the development have informed Prakash Priyadarshi of Zee Business that the government has finalised the procurement formula and the new crop procurement policy can be announced during the next cabinet meeting that is scheduled to be held in the third week of July 2018.

The government may approve more than one formula for procurement.

According to the sources, the government will incentivise private players for purchasing crops from farmers at the MSP. It may also approve the formula under which the difference between the MSP and the market price will be paid directly by the government.

In addition, to keep price manipulation under control, it may also cap the prices between 10-20 per cent. States can get the rights to procure certain crops directly without the approval of the Centre.
Besides, an additional fund to encourage procurement infra and development of warehouses can be announced during the cabinet meeting.

Watch this Zee Business video

Last week, CCEA hiked the minimum support price for paddy by a record 200 rupees per quintal. Briefing about the decision in New Delhi, Home Minister Rajnath Singh said the cabinet has approved the MSP of 14 Kharif crops for the 2018-19 season.

 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
MSPMinimum Support Price
RELATED NEWS
Centre procured over Rs 59-cr Kharif crops till Oct 23 Centre procured over Rs 59-cr Kharif crops till Oct 23
Financial support to farmers from Modi government! Rs 19,444 cr sanctioned in 1st installment for MSP operations support to these states Financial support to farmers from Modi government! Rs 19,444 cr sanctioned in 1st installment for MSP operations support to these states
Modi government raises MSP for rabi, kharif crops for 2019-20 Modi government raises MSP for rabi, kharif crops for 2019-20
Relief for farmers: Modi government mulling to add more crops in MSP list, says Niti Aayog Relief for farmers: Modi government mulling to add more crops in MSP list, says Niti Aayog
Kitchen alert! This daily use item has now become costlier - Here is why Kitchen alert! This daily use item has now become costlier - Here is why

LATEST NEWS

PPF vs NPS Calculator: Here is what will turn you into a crorepati and much more - Money Tip EXPLAINED

Mid-Cap Picks with Anil Singhvi: JB Chemicals, Jindal Saw and KEC International are stocks to buy

Asus ROG Phone 5 set to launch in India on March 10: Here's all you need to know

Stock Market Outlook: Focus will be on these - Check what share bazaar experts, analysts opined

MacKenzie Scott Marriage: Ex-wife of Amazon boss Jeff Bezos marries this man - Who is he? His profession? Read full letter

Anil Singhvi’s Strategy March 8: Strong Profit Booking Zone on Nifty is 15,200-15,245 & Bank Nifty is 36,400-36,600

Meghan tears into royal family in Oprah interview

Special Pick With Anil Singhvi: Here are top stocks to buy on International Women’s Day

NEET 2021 exam: Students don't miss to check the latest update on exam dates, eligibility criteria, registration process and all you need to know before appearing in the exam!

Karnataka Budget 2021: Big gift for Ram Temple Ayodhya pilgrims - All details here

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved