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Cabinet approves PM-AASHA scheme
Context
The Union Cabinet approved the continuation of the Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA) scheme, allocating Rs. 35,000 crore for the 15th Finance Commission Cycle, extending until 2025-26.
What is PM-AASHA?
- Pradhan Mantri Annadata Aay SanraksHan Abhiyan’ (PM-AASHA) is an umbrella scheme to ensure Minimum Support Price (MSP) to farmers.
- It comprises the erstwhile Price Support Scheme (PSS) with certain modifications and rolling out of new schemes of Price Deficiency Payment Scheme (PDPS) and pilot of Private Procurement and Stockist Scheme (PPSS).
Integration of Schemes:
- The government has merged the Price Support Scheme (PSS) and the Price Stabilisation Fund (PSF) under PM-AASHA to enhance efficiency in supporting both farmers and consumers.
- PM-AASHA will now have the components of:
- Price Support Scheme (PSS): Starting from the 2024-25 season, the government will procure pulses, oilseeds, and copra at Minimum Support Price (MSP), covering 25% of national production. A 100% procurement policy will be implemented for Tur, Urad, and Masur to prevent distress sales.
- Price Stabilisation Fund (PSF): The PSF aims to protect consumers from volatile price changes by maintaining a buffer stock of essential commodities like pulses and onions. The Department of Consumer Affairs (DoCA) will procure these commodities when market prices exceed the MSP, discouraging hoarding and speculative trading.
- Price Deficit Payment Scheme (PDPS): The coverage for this scheme has increased from 25% to 40% of state production for oilseeds, with the implementation period extended from three to four months. The Central Government will cover up to 15% of the difference between the MSP and market price.
- Market Intervention Scheme (MIS): The MIS has been adjusted to support perishable horticultural crops by raising coverage from 20% to 25% of production. The government will now handle transportation and storage costs for tomato, onion, and potato (TOP) crops, aiding price stability during peak harvesting periods.
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