The Indian government has announced the continuation of the Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA) initiative, with a significant budget of Rs 35,000 crore. This program seeks to obtain higher prices for farmers while also addressing the price volatility of critical goods for consumers.
The Union Cabinet, led by Prime Minister Narendra Modi, accepted the approval of PM-AASHA, which aims to give remunerative rates for farmers while ensuring market price stability for consumers. The whole budgetary commitment under this strategy will last until the 15th Finance Commission Cycle, or fiscal year 2025-26.
To improve its effectiveness, the government combined the Price Support Scheme (PSS) and the Price Stabilisation Fund (PSF) into PM-AASHA. This integrated approach is intended to increase implementation and effectiveness, allowing farmers to obtain fair prices for their output while also managing price volatility in vital commodities, ensuring that they are available to consumers at acceptable prices.
The updated PM-AASHA will now include several components, such as the Price Support Scheme (PSS), Price Stabilisation Fund (PSF), Price Deficit Payment Scheme (PDPS), and Market Intervention Scheme (MIS).
