Zania-Editor
To better support farmers and consumers, the government has combined the price support scheme and the price stabilization fund into the Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA). The Union Cabinet approved this extension on Wednesday, with a total budget of ₹35,000 crore allocated until the fiscal year 2025-26.
The new PM-AASHA will include several components: the price support scheme, the price stabilization fund, the price deficit payment scheme, and the market intervention scheme. Starting in the 2024-25 season, the government will allow the procurement of specific crops—pulses, oilseeds, and copra—at Minimum Support Prices (MSP) for 25% of national production. This aims to ensure better prices for farmers and prevent distress sales.
However, for the 2024-25 season, there will be 100% procurement of tur, urad, and masur, meaning these crops will not be subject to the 25% limit. The Ministry of Agriculture and Farmers Welfare announced that the government has increased the guarantee for procuring notified crops from farmers to ₹45,000 crore.
This initiative is expected to encourage farmers to grow more of these crops, helping the country achieve self-sufficiency and reduce reliance on imports. Additionally, the extension of the price stabilization fund will protect consumers from extreme price fluctuations in agricultural products. The government is also encouraging states to implement the price deficit payment scheme for oilseeds, increasing the coverage from 25% to 40% of state production and extending the implementation period from three to four months.
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