PM Narendra Modi holds meeting on new agri-procurement models to ensure MSP

The government wants to finalise these schemes and announce them before the harvesting of kharif crops

Prime Minister Narendra Modi on Tuesday discussed about the financial implication of the proposed procurement mechanism to ensure that farmers get MSP if market prices fall below the government's benchmark rate.

In his Budget 2018 speech, then finance minister Arun Jaitley had announced that think-tank Niti Aayog in consultation with central and state governments will put in place a fool-proof mechanism to ensure farmers get benefit of the minimum support price (MSP).

According to sources, senior officials of Niti Aayog made a presentation before the Prime Minister on the proposed procurement mechanism and its financial implication.