Market Intervention Scheme: An initiative to get the right price for horticultural products to farmers under this scheme, know who will get the benefit

Market Intervention Scheme: The government is implementing the ‘Market Intervention Scheme’ to lessen the losses incurred by farmers as a result of the decline in horticulture product prices. Getting a fair price for the farmers’ goods and securing their income in the face of market instability are the goals of this program.

Market Intervention Scheme (MIS): What is it?

The central and state governments work together to administer the Market Intervention Scheme (MIS). Its primary goal is to support farmers during periods of declining prices for perishable and horticultural goods. In order for farmers to get the best price for their goods, the government purchases their goods under this program based on the Minimum Support Price (MSP).

What makes MIS necessary?

Economic security on price decline: A surplus of horticulture goods often causes their prices to drop, causing farmers to incur significant losses. Farmers may be protected against this loss with the aid of MIS.

Protection against market volatility: A number of variables, including weather and supply and demand, affect agricultural commodity pricing. Farmers are protected from these hazards by this plan.

Stability in the agricultural sector: Because the government buys goods, farmers get a fair price for their production, allowing them to better prepare for the next harvest.

How does this plan operate?

• To put the market intervention plan into action, the state government submits a proposal to the federal government.
• After reviewing the application, the central government grants approval and funds the program.
• Farmers sell their goods to governmental organizations and governments for the lowest possible price.
• Produce farmers get payments straight into their bank accounts.
• By providing enough storage facilities, the acquired goods are sold on the market at the appropriate moment.

What are the advantages for farmers?

• Set minimum price: Farmers will get fair compensation for their goods, improving their financial standing.
• Farmers will gain more, and the role of intermediaries will be diminished as a result of the government purchasing goods directly from farmers.
• Storage facility: To prevent spoiling, the government-purchased goods will be stored in a secure location.

Which goods are eligible for benefits?

This plan may include agricultural items such as mango, onion, tomato, potato, apple, grapes, orange, banana, pomegranate, and spices. so that farmers’ incomes may be readily increased.