Fertiliser stocks Friday gained as much as 12 per cent after the cabinet approved a Rs 15,053 crore new procurement policy to ensure remunerative prices to farmers.
Ahead of the 2019 polls, the government Wednesday announced a Rs 15,053-crore procurement policy allowing states to choose a compensation scheme and rope in private agencies for procurement to ensure remunerative prices to farmers.
Mangalore Chemicals & Fertilizers also rose marginally by 0.66 per cent.
In the budget this year, the government had announced that it will put in place a fool-proof mechanism to ensure minimum support price (MSP) to farmers. It had asked think-tank Niti Aayog to suggest a mechanism in consultation with the Agriculture Ministry and states.
Under the PM-AASHA, states would be allowed to choose from three schemes -- existing Price Support Scheme (PSS), newly designed Price Deficiency Payment Scheme (PDPS) and Pilot of Private Procurement Stockist Scheme (PPSS) -- to undertake procurement when prices of commodities fall below the MSP level.
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