Price Stabilisation Fund of Rs. 1000 Crore Formed in M.P. to Provide Reasonable Rates to Farmers
Friday - June 30, 2017 9:49 am ,
Category : MADHYA PRADESH
Bhopal: In order to provide reasonable rates to the farmers for their produces, Madhya Pradesh Price Stabilisation Fund worth Rs. One thousand Crore has been instituted as per the Market Intervention Rate in Madhya Pradesh. A working committee has been formed by the state government for this fund.
The fund constituted with an objective to provide the amount in case of loss during procurement of variety recommended by Madhya Pradesh Agriculture Production Cost and Marketing Commission and Market Intervention Rate declared by the state Government for which no MSP is declared by the union government. Amount received from the Price Stabilisation Fund of the Union Government towards financial losses will be deposited in this fund. In case of dividends, the same will also be deposited in the Price Stabilisation Fund. Moreover, interest earned on amount available with the fund will be deposited in the PSF.
The Price Stabilisation Fund will be maintained by the State Agriculture Marketing Board. A sum of Rs. 500 crore from the State Marketing Development Fund of the Mandi Board and the balance after making budget provision will be deposited in the fund by the state government. General meeting of Agriculture Cabinet Price Stabilisation Fund will be held and policy of Price Stabilisation Fund will be formulated by the general meeting.
The fund constituted with an objective to provide the amount in case of loss during procurement of variety recommended by Madhya Pradesh Agriculture Production Cost and Marketing Commission and Market Intervention Rate declared by the state Government for which no MSP is declared by the union government. Amount received from the Price Stabilisation Fund of the Union Government towards financial losses will be deposited in this fund. In case of dividends, the same will also be deposited in the Price Stabilisation Fund. Moreover, interest earned on amount available with the fund will be deposited in the PSF.
The Price Stabilisation Fund will be maintained by the State Agriculture Marketing Board. A sum of Rs. 500 crore from the State Marketing Development Fund of the Mandi Board and the balance after making budget provision will be deposited in the fund by the state government. General meeting of Agriculture Cabinet Price Stabilisation Fund will be held and policy of Price Stabilisation Fund will be formulated by the general meeting.
Working Committee
A working committee for Price Stabilisation Fund has been made comprising Agriculture Production Commissioner as Chairman. Members of the committee include Principal Secretary Farmers Welfare and Agriculture Development, Principal Secretary Finance, Principal Secretary Cooperative, principal Secretary Horticulture and Food Processing, Principal Secretary Food-Civil Supplies and Consumer Protection, Principal Secretary Water Resources, Principal Secretary Animal Husbandry, Principal Secretary Fisheries, Managing Director Madhya Pradesh State Agriculture Marketing Board, Managing Director Madhya Pradesh State Warehousing and Logistic Corporation and Managing Director Madhya Pradesh State Civil Supplies Corporation. Managing Director Madhya Pradesh State Agriculture Marketing Board has been made member secretary of the working committee.
Working regard to the functioning of the Fund will be carried out according to the decision of general meeting (Krishi Cabinet) of the working committee. Directives related to functioning process and operational guidelines of Price Stabilisation Fund will be issued shortly by the state government.-WTN
Working regard to the functioning of the Fund will be carried out according to the decision of general meeting (Krishi Cabinet) of the working committee. Directives related to functioning process and operational guidelines of Price Stabilisation Fund will be issued shortly by the state government.-WTN
