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Government provides Farmers with Interest-Free Storage and Transport Subsidies


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Ahead of the upcoming Union Budget, Union Agriculture Minister Shivraj Singh Chouhan announced that the government is working to ensure farmers do not have to pay any interest for storing their produce in warehouses for two to three months.

Chouhan revealed that the agriculture ministry has approached Union Finance Minister Nirmala Sitharaman to allow farmers to receive payments based on warehouse receipts. He emphasized that the government is also focused on bridging the price gap between what consumers pay and what producers receive.

The Centre recently launched the Credit Guarantee Scheme for Electronic-Negotiable Warehouse Receipt (e-NWR) based Pledge Financing (CGS-NPF), with a Rs 1,000 crore corpus to support post-harvest finance. Farmers can access this scheme by using electronic negotiable warehouse receipts (e-NWRs) after depositing their commodities in Warehousing Development and Regulatory Authority (WDRA) accredited warehouses.

Speaking at a public meeting in Chhattisgarh, Chouhan highlighted the high transportation costs for fruits and vegetables. To address this, the government has decided to bear the transportation costs for fruits and vegetables transported through NAFED (National Agricultural Cooperative Marketing Federation of India).

Chouhan also urged farmers and farmer organizations to focus on setting up processing units, with subsidies available for such initiatives.

He further emphasized the importance of respecting hardworking farmers, saying, “If a farmer works hard, he should be respected. I assure you that under Modi ji’s leadership, we will leave no stone unturned in doubling the farmer’s income.”

In his address, Chouhan outlined a six-point program for agricultural development, which includes efforts to increase production through ongoing research by the Indian Council of Agricultural Research (ICAR). He highlighted a new variety of rice that has been developed, which uses 20% less water and does not require transplantation, making it easier to grow like wheat. Chouhan expressed confidence that with access to good seeds, India could become the food basket of the world.

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