E-auctioning platform opened at Periyapatna
Union Minister of State for Commerce D. Purandeswari said here on Friday that the Centre had almost finalised a Price Stabilisation Fund (PSF) scheme to help tobacco growers during crises, including providing crop insurance for losses owing to various reasons.
She was addressing tobacco farmers after inaugurating the e-auctioning system at platform number 4 here. With this, the demand of growers for introduction of electronic auctions has come to fruition.
The Government of India would contribute 50 per cent of the funds to the PSF, State government 25 per cent and another 25 per cent by the grower himself. However, the Tobacco Board was considering contributing half of the grower’s contribution (12.5 per cent) towards the fund, Ms. Purandeswari said.