Uttar Pradesh's Rebates Revamp: A Boon for Rice Farmers

The Uttar Pradesh government has announced a crucial incentive for rice farmers. On Tuesday, Finance Minister Suresh Kumar Khanna unveiled a 1% recovery rebate on non-hybrid paddy, a move mirroring the existing concession on hybrid paddy.

This policy shift is set to benefit around 15 lakh farmers in the state, albeit at an additional cost of Rs 166 crore to the government. Khanna noted that hybrid paddy currently enjoys a 3% rebate, costing the state approximately Rs 100 crore annually.

The rebate aims to boost paddy farming by offering better prices in mandis and strengthening rice milling industries, potentially generating two lakh new jobs. The government's procurement efforts, already underway, signal strong support for the agricultural sector.