Govt is procuring crops at 1.5 times MSP: Finance Minister

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Govt is procuring crops at 1.5 times MSP: Finance Minister

Last Updated : 01 Feb 2021 01:10:53 PM IST

Finance Minister Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Monday said farmers are getting 1.5 times of the minimum support price (MSP) on procurement of foodgrains.

In her Budget speech, the Finance Minister said procurement of crops will continue at the minimum support price.

Presenting statistics on procurement of wheat and rice on MSP, she said that this year Rs 1,72,000 crore will be spent on procurement of rice and more than Rs 62,000 crore have already been spent on procurement of wheat.

One of the two main demands of the farmers protesting at Delhi's borders for more than two months has been a legal guarantee on MSP by the government.

While the government has reiterated that the present system of procurement of crops at MSP will continue.