Indian Economy News

Ensure India emerges as world's source of quality food grain: PM Modi

Prime Minister Mr. Narendra Modi said that Indian wheat and other agricultural products must be of high quality if India is to remain the world's standard source of food.  Following a briefing on India's wheat production, stock, and exports, he urged government authorities to assist farmers. According to an official release, he was also informed of the impact of high temperatures in the months of March and April 2022 on crop production, the status of procurement and export, and the current market rates that benefit farmers.

Secretary (Department of Food Public  Distribution), Mr. Sudhanshu Pandey stated that the government's wheat procurement is expected to fall to 19.5 million tonnes in the 2022-23 marketing year (April-March), a significant decrease from the previous year, due to a variety of factors, including higher market prices of wheat in some states compared to the minimum support price (MSP), stocks held by farmers and traders in anticipation of further price rises, and lower production than estimated in some states.

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