New Delhi: India’s overall foodgrain production may touch a new record of 277.49 million tonnes in the 2017-18 crop year (July-June) with pulses and rice outputs reporting new high, according to the agriculture ministry’s latest estimates.
One of the options of extending government’s guarantee to banks and lending agencies to ensure that the state agencies do not face fund crunch for procurement is likely to come up before the Union Cabinet for approval on Wednesday.
The move will help states to go for procurement of pulses, oilseeds and cotton under the Price Support Scheme (PSS) through central nodal agencies and the other crops by state agencies at the Minimum Support Price (MSP) in a big way without worrying about paucity of funds.