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Fears regarding MSP schemes are exaggerated: SBI Ecowrap

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New Delhi, Feb 12 (IANS) The government’s decision to fix the minimum support price (MSP) at 1.5 times the cost of production is unlikely to raise prices as envisaged, said an SBI report here on Monday.

“There is a market perception that implementation of market compensation scheme may cost the government as much as Rs 80,000 crore, but our estimates suggest it may be less than one-fourth of this figure,” SBI Ecowrap said.

In a survey carried out by SBI, it found that there has been a downward pressure on market price during post harvest period, but the difference between market price and MSP varies from state to state.

“In states like Gujarat, Maharashtra, Karnataka and Jharkhand, the market price (both minimum and average price) is higher than MSP,” it added.

On conservative basis, the survey estimate showed the combined cost for MSP wheat, paddy, bajra and maize would be less than Rs 11,500 crore.

The four grains contribute more than 80 per cent of total food grain production in the country and 75 per cent of total area was under cultivation of these grains in FY17, the report said.

It further said: “Benefit of this scheme is the price difference that will be directly paid into farmers accounts like other DBT (Direct Benefit Transfer) scheme. So, it will stop the leakages and the accounts of the farmers will remain active, with continued flow of transactions.”

The report, however, said, the scheme should be judiciously monitored to achieve its desired objective.

Finance Minister Arun Jaitley in his Budget speech on February 1, 2018 announced that the MSP for notified kharif crops will be 1.5 times the input cost.

“For majority of the notified rabi crops, MSP at 1.5 times over production cost has been decided. Now, the government has decided to make the MSP for all notified crops in the coming kharif season at least 1.5 times of input cost. It will help in doubling farmers’ income,” he had said.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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