The Union Cabinet today approved new Umbrella Scheme ‘Pradhan Mantri Annadata Aay Sanrakshan Abhiyan, PM-AASHA.
The Scheme is aimed at ensuring remunerative prices to the farmers for their produce as announced in the Union Budget for 2018.
Briefing media in New Delhi, Agriculture Minister Radha Mohan Singh, the step is a major boost to the pro-farmers initiative of the Government.
Mr Singh said, the new Umbrella Scheme includes the mechanism of ensuring remunerative prices to the farmers and is comprised of Price Support Scheme, Price Deficiency Payment Scheme and Pilot of Private Procurement and Stockist Scheme.
This is a step aims at protecting the farmers’ income which is expected to go a long way towards the welfare of farmers.
The Cabinet also decided that participation of private sector in procurement operation needs to be piloted so that on the basis of learnings the ambit of private participation in procurement operations may be increased.
The government has already increased the MSP of kharif crops by following the principle of 1.5 times the cost of production.
It is expected that the increase in MSP will be translated to farmer’s income by way of robust procurement mechanism in coordination with the State Governments.