The State government will stand guarantee for ₹ 850 crore credit to be obtained by Telangana State Cooperative Agricultural Marketing Federation Ltd (TS-Markfed) from National Cooperative Development Corporation, nationalised banks and other public sector financial institutions for procurement of maize and jowar with minimum support price.
Agriculture Production Commissioner C. Parthasarathi said in the orders issued on Tuesday that maize and jowar produce would start arriving into the markets from the second week of September itself and for its procurement with MSP under price support scheme the nodal agency, Markfed, would require finance to meet the provisional cost.
The Markfed has requested the government to stand guarantee for borrowing the loan required for the procurement of maize and jowar during the kharif marketing season 2018-19. Accordingly, the government has decided to stand guarantee for the loan.