The Government of India’s paddy and wheat procurement operations have been running smoothly, bringing good news to the agricultural community. During the Kharif Marketing Season (KMS) 2022-23, over 830 Lakh Metric Tons (LMT) of paddy has been procured under the Minimum Support Price (MSP) scheme, benefiting more than 1.22 crore farmers with a direct transfer of Rs. 1,71,000 crore into their accounts. Additionally, wheat procurement during the ongoing Rabi Marketing Season (RMS) 2023-24 has exceeded last year’s figures by a significant margin. Let’s explore the key highlights of these successful operations that have ensured a comfortable stock of food grains in Government granaries.
The Government of India’s commitment to supporting farmers and ensuring food security has resulted in successful paddy and wheat procurement operations. With effective arrangements in place, the paddy procurement for the Kharif Marketing Season 2022-23 has reached an impressive 830 LMT, benefiting a substantial number of farmers and contributing to their financial well-being. Simultaneously, the ongoing wheat procurement for the Rabi Marketing Season 2023-24 has surpassed last year’s figures, providing further support to the agricultural sector.
- Paddy Procurement: During the Kharif Marketing Season (KMS) 2022-23, the Government of India has procured more than 830 Lakh Metric Tons (LMT) of paddy under the Minimum Support Price (MSP) scheme. This initiative has positively impacted over 1.22 crore farmers across the country.
- Direct Financial Support: As part of the paddy procurement operations, an impressive MSP outflow of Rs. 1,71,000 crore has been directly transferred into the bank accounts of the beneficiary farmers. This substantial financial support is expected to enhance their economic stability.
- Rice Delivery Progress: The procurement of paddy has also led to significant progress in rice delivery. Out of the total paddy procurement of 830 LMT (equivalent to 558 LMT in terms of rice), approximately 401 LMT of rice has already been received in the Central Pool as of 19.06.2023. Another 150 LMT of rice is expected to be received soon.
- Wheat Procurement: Moving to the Rabi Marketing Season (RMS) 2023-24, the progressive procurement of wheat has been commendable, reaching 262 LMT as of 19.06.2023. This figure surpasses the total procurement of wheat during the previous year by a remarkable 74 LMT.
- Extensive Farmer Support: The ongoing wheat procurement has already benefited about 21.29 Lakh farmers, who have received MSP payments amounting to approximately Rs. 55,680 crores. This substantial financial boost is set to positively impact the rural economy.
- Leading Procuring States: The states of Punjab, Madhya Pradesh, and Haryana have played a major role in the wheat procurement operations, contributing 121.27 LMT, 70.98 LMT, and 63.17 LMT, respectively. Their proactive efforts have significantly contributed to the overall success of the procurement drive.
- Record MSP Payments: The combined MSP payment to farmers for the procurement of wheat and paddy this year stands at an impressive Rs. 2,26,829 crore. This marks a notable increase from the total payment of Rs. 2,05,896 crore made in the previous year.
- Adequate Food Grains Stock: Thanks to the successful procurement operations, the combined stock of wheat and rice in Government granaries has reached a substantial 570 LMT. This comfortable stock position ensures the country’s readiness to meet its food grain requirements and maintain food security.
The Government of India’s proactive efforts in paddy and wheat procurement have yielded remarkable results, benefiting millions of farmers and ensuring food security through a sufficient stock of food grains. These achievements exemplify the government’s unwavering commitment to supporting the agricultural sector and ensuring the well-being of farmers across the nation.