MSP guarantee would leave very little money for other development & social goals: Govt officials
Farmers Protest: Check Live Updates
The officials underscored the impracticality of implementing such legislation, highlighting that the total value of agricultural produce in the country during FY20 stood at Rs 40 lakh crore, whereas the market value of the 24 crops under the MSP regime was estimated at Rs 10 lakh crore.
Procuring this volume of produce from the government's total expenditure of Rs 45 lakh crore for 2023-24 would severely limit resources available for other crucial development and social objectives essential for India's economic progress, they argued.
For the upcoming fiscal year, the government has allocated Rs 11,11,111 crore for capital expenditure, primarily directed towards infrastructure projects like roads and railways. «It (Rs 10 lakh crore) is more than the annual average expenditure on infrastructure in the last seven fiscal years (Rs 67 lakh crore, between 2016 and 2023). Clearly, a universal MSP demand does not make any economic or fiscal sense,» the TOI report quoted an official as saying.
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« Back to recommendation storiesI don't want to see these stories becauseSUBMIT Too many hurdles
The officials, however, said that the government is ready to talk with the farmer groups.
Notably, Union Agriculture Minister Arjun Munda on Tuesday said a law
