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Centre to procure tur at rate above MSP, transfer money to farmers' accounts

IndiaTimes Monday, 25 December 2023
This article discusses the central government's new initiative to eliminate intermediaries and ensure fair prices for farmers. The government will buy the kharif crop directly from farmers at prices higher than the minimum support price (MSP). Money will be transferred directly to the farmers' bank accounts, a first for pulses producers. Two government agencies, NAFED and NCCF, will procure tur at prices determined by the dynamic price formula, based on prevailing mandi prices. This initiative aims to encourage farmers to grow more tur and create a buffer stock. Union cooperation minister Amit Shah will launch this new mechanism soon.
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