Direct Benefit Transfer: 11.6 lakh Farmers receive Rs 24,037.6 crore as MSP through Wheat Procurement

121.7 lakh tonnes of wheat were procured during the current Rabi Marketing Season (RMS), compared to 5.2 lakh tonnes the previous year during the same time. Because of the Covid-induced lockdown last year, procurement suffered.

According to the food ministry, wheat procurement has helped 11.6 lakh farmers, with an MSP value of Rs 24,037.6 crore. According to the study, Punjab farmers have begun collecting payments directly into their bank accounts in exchange for the selling of their rabi crops for the first time. Approximately Rs 202.7 crore has been transferred directly into Punjab farmers' accounts in the last week.

In the current RMS, the Centre intends to procure about 427 lakh tonnes of wheat in the central pool at MSP. According to the ministry, procurement in the procuring states and UTs of Punjab, Haryana, UP, Chandigarh, MP, Rajasthan, and other states has picked up in the last week.

As of April 18, Haryana contributed 44.8 lakh tonnes (36.8%), Punjab 41.8 lakh tonnes (34.2%), and MP 28.5 lakh tonnes (23.4%) to the total of 121.7 lakh tonnes, according to the ministry.