NCDC earmarks ₹25,000 crore for MSP operations by co-op societies
National Cooperative Development Corporation (NCDC), under the Agriculture Ministry, has earmarked ₹25,000 crore for MSP (minimum support price) operations during the current kharif season, which is 21 per cent more than last year.
Cooperatives use this short-term loans to procure foodgrains from farmers on behalf of Food Corporation of India and State procurement agencies for making instant payment to farmers. “Farmers need to be supported and their payments cannot be delayed or stopped. But more often than not, the government agencies involved procurement will not be paying cooperatives overnight. So the cooperatives use the NCDC credit for paying farmers,” NCDC Managing Director Sundeep Nayak told BusinessLine.
Kempegowda International Airport emerges major airport for pomegranate exports
Kempegowda International Airport, Bengaluru (KIAB/BLR Airport) in the first-half of FY2020-21 processed 131,603 mt of freight at its cargo terminal.
The cargo processed in September was 32,449 mt, a growth of over 0.3 per cent, against the same period last year. September 2020 witnessed over 4.5 per cent growth in international cargo, of which export cargo grew by over 7.6 per cent. Meanwhile, domestic cargo is showing a slower recovery at 5.2 per cent lower than the same period last year.
Telangana to purchase maize at ₹1,850/quintal
Ending days of speculation, the Telangana Government has decided to procure maize from the kharif harvest in the State at the minimum support price (MSP) of ₹1,850 a quintal. The State, which asked the farmers not to grow maize in kharif, was reluctant to buy it.
With unprecedented rains damaging the crops and farmers asking the government to procure the commodity, Telangana Chief Minister K Chandrashekar Rao said the commodity will be purchased by the Markfed.