Cabinet approves doubling of Government guarantee from 9,500 crore to 19,000 crore for procurements of pulses and oilseeds at MSP under Price Support Scheme by NAFED

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....abinet approves doubling of Government guarantee from 9,500 crore to 19,000 crore for procurements of pulses and oilseeds at MSP under Price Support Scheme by NAFED <br>News and Press Release<br>Dated....

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....:- 1-3-2018<br><BR>The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi, has approved the regularization and extension of Govt. Guarantee provided to lender Bank for....

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.... providing credit limit to National Agricultural Cooperative Marketing Federation of India (NAFED) &#8377; 19,000 crore from earlier &#8377; 9,500 crore for undertaking procurement operation of pulses....

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.... and oilseeds under Price Support Scheme (PSS) and to Small Farmers Agri-Business Consortium (SFAC) for &#8377; 45 crore for meeting their existing liability and settlement of extant claims. These Gov....

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....ernment Guarantees are provided for a period of five years i.e. till 2021-22 by Govt. of India and with waiver of 1% Government Guarantee fee. As the market price of almost all pulses and oilseeds ar....

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....e ruling below Minimum Support Price (MSP) as notified by Govt. of India, provision of Govt. Guarantee will help in protecting the farmers producing these commodities from making distress sales during....

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.... the peak arrival period and to provide remunerative prices with a view to encourage higher investment and production and also to safeguard the interest of consumer by making available supplies at rea....

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....sonable price with low cost of intermediation.<BR> News - Press release - PIB....