Context:
The Centre has approved large-scale procurement of pulses and oilseeds under the Price Support Scheme in Uttar Pradesh, Gujarat, Tamil Nadu and Haryana. The move aims to ensure MSP benefits to farmers and protect them from distress sales when market prices fall.
Explanation:
- Minimum Support Price (MSP) is the assured price announced by the government to protect farmers from sharp fall in market prices.
- Price Support Scheme (PSS) is implemented to procure notified crops when market prices fall below MSP.
- PSS mainly covers pulses, oilseeds and copra to ensure remunerative returns to farmers.
- It is part of the broader PM-AASHA framework, which aims to strengthen price support for farmers.
- Procurement is usually done by agencies such as NAFED and other designated state/central agencies.
- In this decision, procurement of moong, urad and groundnut has been approved in four states.
- Uttar Pradesh is the biggest beneficiary, with MSP procurement worth more than ₹1,490 crore.
- The scheme helps reduce distress sales, supports farm income, and encourages domestic production of pulses and oilseeds.
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