Ranchi: In a significant move to support farmers, the Jharkhand State Government has approved a bonus of Rs 117 per quintal in addition to the Minimum Support Price (MSP) fixed by the Government of India for the procurement of paddy from farmers in the year 2023-24. With this decision, farmers in the state will receive a total of Rs 2300 per quintal for their paddy.
This decision, sanctioned by the Council of Ministers, aims to alleviate the financial burden on farmers and enhance their income. The State Paddy Procurement Scheme has been approved by the Cabinet, and funds have been arranged for the scheme. The government has also secured loans from banks, up to the limit of Rs 1,000 crore, to ensure timely payments to farmers and provide an incentive payment of Rs 60 per quintal to rice millers.
The Cabinet has set a target to procure a total of six lakh metric tonnes of paddy from farmers in the state. The additional bonus of Rs 117 per quintal will result in an extra burden of Rs 70.20 crore on the state treasury. This decision reflects the government’s commitment to supporting the agricultural community and ensuring their financial well-being.
