Government Allocates ₹37,450 Crore to Cotton Farmers for MSP Procurement
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Synopsis
The Central government has allocated ₹37,450 crore for cotton procurement under MSP, benefiting around 21 lakh farmers across India. This initiative aims to ensure fair pricing and support the agricultural economy during the current marketing season.
Key Takeaways
- ₹37,450 crore paid to 21 lakh farmers.
- Procurement covers 38% of total arrivals.
- Telangana leads with 40 lakh bales.
- 508 procurement centres established.
- Cott-Ally app enhances farmers' access to information.
New Delhi, April 8 (NationPress) The Central government, through its nodal agency, the Cotton Corporation of India Ltd (CCI), has procured a total of 525 lakh quintals of seed cotton, which translates to 100 lakh bales, under the Minimum Support Price (MSP) scheme during the current marketing season up to March 31 of this year, as per a statement released by the Ministry of Textiles on Tuesday.
In total, an impressive amount of ₹37,450 crore has been deposited directly into the accounts of roughly 21 lakh cotton farmers across all the cotton-producing states, the statement noted.
The procurement constitutes 38 percent of the overall cotton arrivals of 263 lakh bales and 34 percent of the projected total cotton yield of 294.25 lakh bales in the nation.
Among the various states, Telangana has achieved the highest procurement at 40 lakh bales, followed by Maharashtra with 30 lakh bales, and Gujarat with 14 lakh bales. Other states with notable procurement figures include Karnataka (5 lakh bales), Madhya Pradesh (4 lakh bales), Andhra Pradesh (4 lakh bales), and Odisha (2 lakh bales). Procurement figures for Haryana, Rajasthan, and Punjab stand at 1.15 lakh bales.
The MSP mechanism continues to provide advantageous pricing to cotton farmers, shielding them from distress sales when market prices dip below the MSP.
To enhance procurement efficiency, the CCI has established 508 procurement centres across the country. Numerous digital initiatives have been launched, including on-the-spot Aadhaar authentication, SMS notifications for payments, and 100 percent direct payments through the National Automated Clearing House (NACH), the statement added.
The Cott-Ally mobile app, available in nine regional languages, allows farmers to access real-time updates on MSP rates, procurement centre locations, and payment tracking. Additionally, all cotton bales produced by CCI are traceable via QR codes, utilizing blockchain technology to ensure transparency and accountability, the statement mentioned.
The Cotton Corporation of India Ltd, functioning under the administrative oversight of the Ministry of Textiles, has been tasked with safeguarding the interests of cotton farmers through a fair, transparent, and effective procurement process.
