Govt buys paddy worth over Rs 1.12 trillion at minimum support price so far

The government's paddy procurement has increased by 19 per cent so far this kharif marketing season to 596.98 lakh tonne, costing more than Rs 1.12 lakh crore (Rs 1.12 trillion) to the exchequer, amid farmers' protest at various Delhi borders against three new farm laws.

"In the ongoing Kharif Marketing Season (KMS) 2020-21, Government continues to procure Kharif 2020-21 crops at MSP (minimum support price) from farmers as per existing MSP Schemes," an official statement said.

Kharif marketing season starts from October.

The Food Corporation of India and state agencies have procured 596.98 lakh tonne of paddy till January 29, 2021, up 18.92 per cent from 501.97 lakh tonne in the corresponding period of the previous year.

"About 86.79 lakh farmers have already benefited from the ongoing KMS procurement operations with MSP value of Rs 1,12,709.84 crore," the statement said.

Out of the total purchase of 596.98 lakh tonne, Punjab has contributed 202.77 lakh tonne.

Thousands of farmers, mainly from Punjab, Haryana and Uttar Pradesh, are protesting at various borders of the national capital, seeking repeal of farm laws and a legal guarantee for the MSP system.

Eleven rounds of talks between the Centre and around 40 farmer unions have failed to break the deadlock.