Telangana Chief Minister K Chandrasekhar Rao today said his government will provide Rs 500 crore as a corpus in the next budget for the proposed farmer federations.
The fund will be used to ensure that farmers get a MSP (minimum support price) for their produce and also sell the crop for a higher price, an official release said.
These federations can also raise funds from financial institutions and banks, it said.
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"He (KCR) said a Rs 500-crore fund will be provided in the Budget which will be given to the farmers' federations. These federations will be further strengthened financially with the capital fund and by raising loans from banks. These federations will ensure that farmers get a MSP for their produce and also sell their crops at a higher price," the release quoted the chief minister as saying.
Farmers should sell their produce if they get price more than the MSP or else the federations will be given permission for value addition, he said.
Speaking to leaders from Mahabubabad district, Rao said his government has initiated a number of measures for the welfare of farmers in a bid to make agriculture profitable.
At every level, these associations will intervene and help the farming community. They will also help the government in framing policies and will coordinate among farmers, the CM said.
Rao had announced setting up of farmers' associations at the mandal, district and state levels in order to create a price support operation for crops.
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