The Centre is implementing Market Intervention Scheme (MIS) on the request of the states for procurement of agriculture and horticulture commodities that are perishable and not covered under Price Support
Scheme, Agriculture Minister Sharad Pawar today said.
The MIS is implemented to protect growers' interests to avoid distress sale in the event of bumper crop when prices tend to fall below the economic levels/cost of production, he informed the Lok Sabha during Question Hour.
The MIS is implemented to protect growers' interests to avoid distress sale in the event of bumper crop. Reuters
He said procurement under MIS may be made by NAFED as the central agency or by agencies designated by states. Losses incurred by the procuring agencies will be shared between Central government and concerned state government on
50:50 basis (75:25 in case of North-Eastern states), he said.
However, the amount of loss to be shared between the Centre and state governments is restricted to 25 percent of procurement cost. Profit earned by procuring agencies is retained by them, he said.
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