NCDC sanctioned ₹19444 crores in first instalment for MSP operations

National Cooperative Development Corporation (NCDC) has sanctioned as first instalment, funds amounting to Rs 19444 crores to the states of Chhattisgarh, Haryana and Telangana for Kharif paddy procurement under Minimum Support Price (MSP) operations.

Daily Current Affairs Quiz 2020

Key-Points

National Cooperative Development Corporation (NCDC) is the apex financing organization of Union Agriculture Ministry.

It was established by an Act of Parliament in 1963 as a statutory Corporation under the Ministry of Agriculture & Farmers Welfare.

The objectives of NCDC are planning and promoting programmes for production, processing, marketing, storage, export and import of agricultural produce, livestock etc. on cooperative principles.