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The Union Cabinet approved the continuation of schemes of PM-AASHA Wednesday to provide remunerative prices to farmers and control price volatility of essential commodities for consumers.
According to an official statement, the compensation of difference between MSP and sale/modal price to be borne by the Centre was “limited to 15% of MSP” under the Price Deficit Payment Scheme, one of three components of the PM-AASHA.
“The total financial outgo will be `35,000 crore during 15th Finance Commission Cycle up to 2025-26,” it said. As per the existing PDPS guidelines, “The farmer would be paid the difference between the MSP and the monthly modal price/actual sale price subject to a maximum of 25% of the MSP value based on MSP notified for the year/season.”
“The Government has converged the Price Support Scheme (PSS) and Price Stabilization Fund (PSF) schemes in PM-AASHA to serve farmers and consumers more efficiently… PM-AASHA will now have the components of PSS, PSF, Price Deficit Payment Scheme (PDPS) and Market Intervention Scheme (MIS),” it said.
To encourage states to come forward for implementation of PDPS as an option for notified oilseeds, the statement said, the coverage has been enhanced from existing 25% of state production of oilseeds to 40% and also enhanced the implementation period from 3 months to 4 months.
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