High Kharif Output Coupled with MSP Hikes Can Leave Farmers with More Liquidity of Rs 50K Cr: Report
Mumbai: With yet another record food production at 301 million tonnes expected on the back of a bumper kharif crop this year, recent MSP hikes can leave the farmers with an additional liquidity of Rs 50,000 crore, according to a report. Kharif crops account for nearly 9 per cent of the total gross value added and contribute nearly 60 per cent of value addition of the agriculture and allied activities sector. At 144.52 million tonnes, food grain production will be 9.83 mt more than the average of past five years, and 1.12 mt or 0.8 per cent higher than the previous year’s 143.4 mt. It said it is anticipating agriculture and allied activities to clip at 3.8 per cent this year on the back of buoyant kharif and rabi crops aided by surplus reservoirs.
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