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Implementation of minimum support price for crops, rather than loan waivers, is the long-term solution for the crises faced by farmers, says MS Swaminathan, Founder, MS Swaminathan Research Foundation.
“There is an increasing demand by farmers for loan waivers since their crops have suffered due to drought or other natural calamities,” Swaminathan noted in a press statement. While the short-term problems of farmers need to be addressed through immediate help, long-term policy to make agriculture economically viable and stable is far more important.
Swaminathan further said: “The National Commission on Farmers, which I chaired, recommended pricing and procurement based on total cost of production plus 50 per cent principle. This will provide farmers enough opportunities for saving money for meeting the challenge of unfavourable season. Also steps will have to be taken to stabilise yield under difficult growing conditions.”
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