Good News for Farmers: Government Announces Rs 500 Bonus on Paddy Purchase

Key Highlights

• Rs 500 bonus per quintal on high-quality paddy.
• Rs 2,500 crore allocated for the scheme.
• Telangana farmers get Rs 2820 per quintal for grade A paddy.
• Jharkhand offers Rs 100 bonus per quintal.
• The target is to procure 80 lakh metric tonnes of paddy at MSP.

In a significant step towards supporting farmers, the state government has announced a bonus of Rs 500 per quintal for paddy purchases at the Minimum Support Price (MSP). This initiative aims to increase farmer’s income, especially those cultivating high-quality paddy. A total of Rs 2,500 crore has been allocated for this scheme, and it is expected to benefit thousands of farmers across the state.

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Rs 2,500 Crore Allocated for Paddy Bonus

The government is making continuous efforts to uplift the farming community. By offering a bonus of Rs 500 per quintal on paddy purchases, farmers will receive better prices for their high-quality produce. According to estimates, farmers will earn an additional Rs 10,000 per acre over and above the MSP. This Rs 2,500 crore allocation is aimed at encouraging farmers to produce top-quality paddy and boost their overall income.

Target for Paddy Procurement

This Kharif season, the state government has set a target of producing 154 lakh metric tonnes of paddy. Out of this, 80 lakh metric tonnes of paddy will be purchased at MSP. To ensure smooth procurement, arrangements have been made in mandis (agricultural markets) across the state. The government is focusing on purchasing 50 lakh metric tonnes of Paddy Superfine Variety, as it requires 36 lakh metric tonnes of superfine rice for distribution through ration shops and government hostels.

Which Farmers Will Get the Bonus?

Farmers producing high-quality paddy in Telangana will receive a bonus of Rs 500 per quintal, in addition to the MSP. The state government’s decision follows a promise made by the Congress party during the assembly elections to offer this bonus, which is now being fulfilled. The bonus will encourage farmers to grow premium-quality paddy, and many farmers have expressed happiness over this decision.

Also Read: Government Announces New Policies to Boost Farmer’s Income with Better Prices for Mustard, Sunflower, and Groundnut Crops

Jharkhand's Rs 100 Paddy Bonus

In Jharkhand, the Hemant Soren government has announced a bonus of Rs 100 per quintal for paddy purchases during the 2024-25 Kharif marketing season. This additional bonus will be provided in addition to the MSP set by the central government. Jharkhand has allocated Rs 60 crore for this bonus, aiming to purchase 6 lakh metric tonnes of paddy this year. The Jharkhand cabinet has already approved the proposal for paddy procurement.

MSP and Bonus Rates for 2024-25

For the 2024-25 season, the MSP for ordinary paddy has been set at Rs 2300 per quintal, while the MSP for grade A paddy is Rs 2320 per quintal. With the additional bonus, farmers in Telangana will receive Rs 2820 per quintal for grade A paddy. In Jharkhand, the bonus will bring the total price to Rs 2400 per quintal for ordinary paddy and Rs 2420 for grade A paddy. Last year, Jharkhand farmers received a bonus of Rs 117 per quintal.

Paddy Production in Telangana and Jharkhand

Telangana cultivates paddy on approximately 44 lakh acres, producing an average of 20 quintals per acre. Meanwhile, around 71% of the total cultivable area is used for paddy farming in Jharkhand. However, due to reduced rainfall this year, paddy sowing has been delayed, with only 3% of the total area sown by July 2024. As a result, paddy production in Jharkhand may see a decline this season.

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CMV360 Says

The government's decision to offer bonuses on paddy purchases in both Telangana and Jharkhand is expected to provide much-needed relief to farmers. With the additional financial support, farmers will be motivated to cultivate high-quality paddy, ensuring better returns and improved livelihoods. This initiative demonstrates the government's commitment to boosting agricultural productivity in agriculture and helping farmers achieve greater financial security.