Govt releases Rs 700 crore to Nafed for buying pulses at MSP

 New Delhi :  The Centre has released Rs 700 crore to cooperative Nafed to undertake procurement of rabi pulses and other agri-produce, grown in the 2016-17 crop year, at the support price and protect growers from falling prices. The fund, made available under the Price Support Scheme (PSS) operated by the Agriculture Ministry, will also be used to clear all outstanding payments to farmers for procurement of pulses, mustard seed, groundnut and other commodities undertaken in the 2016-17 crop year that ends this month. The purpose of PSS is to protect farmers with the minimum support price for their produce in times of price fall.