Categories: Business

MSP for agri crops higher than market price need to find solution says gadkari

Photo: PTI

Nitin gadkari

new Delhi. Union Minister Nitin Gadkari said on Thursday that the government's minimum support price (MSP) for agricultural crops is much higher than the domestic market price and international rates. He said that before any kind of economic problem arises, it is necessary to find an alternative solution. Gadkari said in a webinar, "The most important problem in this area is that there is a huge difference between the international and market prices of agricultural commodities and the MSP. This can create a huge economic problem for the country. "

He said that some options have to be found for this and without resolving this issue in agriculture, we cannot accelerate our economy. He said that the country has a stock of rice and wheat in excess, but there is a problem of storage. Gadkari said that he suggested a policy to convert rice to ethanol or bio-ethanol. He made the suggestion in a meeting with top officials including Prime Minister's principal advisor PK Sinha and secretaries of food and civil supplies, agriculture, oil, non-conventional energy and MSME on Wednesday. He said, "Currently our ethanol production is worth Rs 20,000 crores and imports are Rs 6-7 lakh crores. So now we are planning to create an ethanol economy of one lakh crore rupees. "He said that there are 200 closed factories of sugar mills which can be converted for bio ethanol production. He said that in parts of Punjab, Haryana and Uttar Pradesh, there is a need to change the cropping pattern and reduce the area under wheat and paddy cultivation.

Gadkari said, "In Punjab and Haryana, we do not even have space for storage, so it is a bad situation for the country." On the one hand, we have extra grain stock and on the other, we do not have space for storage. ” Further, he said that India imports a huge amount of edible oil worth Rs 90,000 crore as India's oilseed production is not as expected. He said that in the US and Brazil, soybean production per acre is 30 quintals and 27-28 quintals respectively, but in India it is only 4-5 quintals per acre. He said that high productivity requires research on quality oilseeds in the country. On the development of waterways, he said that a report has been submitted to the World Bank to construct the Delhi-Mathura-Agra-Etawa-Allahabad-Varanasi waterway. In addition, the minister called for reducing congestion and developing smart cities and villages in metro cities such as Delhi, Mumbai, Chennai, Bengaluru and Kolkata. He said that India needs to attract FDI as investors are willing to invest here.

This post was published on June 11, 2020 8:43 pm

Content Team

Recent Posts

Ban on gaming apps hopes for opportunity for domestic sector

Photo: MEDIATEK online gaming new Delhi. The government has banned 118 apps keeping in mind the security of the country.…

India august gold imports double to hit 8 months peak says source

Photo: TIMESOFINDIA gold import at 8 months high new Delhi. The economy is now looking forward to a gradual recovery.…

Coal India Q1 profit plunges 55 percent YoY

Photo: GOOGLE Coal India Q1 result new Delhi. Coal India's profit fell 55 per cent in the first quarter to…