Government approves hike in MSP of Kharif Crops
New Delhi, July 4 (KNN) In a bid to double farmers’ income, the government has approved the hike in minimum support price for Kharif Crops for the year 2018-19.
The government has made the substantial increase in the minimum support price (MSP) of most kharif crops, which will cost the exchequer more than Rs 15,000 core, said home minister Rajnath Singh.
The move to hike the MSP of Kharif crop was in line with announcement made by finance minister Arun Jaitley to fix the MSP for all crops at least one and half times of their production cost while presenting the budget 2018-19.
The highest increase has been seen in ragi on year-on-year basis, followed by nigerseed and jowar.
Ragi, a staple food saw a 52.47% increase in MSP to Rs 2,897 per 100 kg while nigerseed saw a 45.11% hike to Rs 5,977 per 100 kg.
The Cabinet approved 42.94% increase in MSP of jowar hybrid to Rs 2,430 per 100 kg. Amongst cereals MSP of common paddy increased by Rs 200 per quintal.
Food minister Ram Vilas Paswan said that the government would be able to procure grains at the MSP announced by the Centre.
“If required we will hire another agency apart from FCI (Food Corporation of India) and state government agencies to carry on procurement of the food-grains,” he added.
Besides, the MSP for fine A grade paddy was raised by Rs 180 per 100 kg to Rs 1,770. Bajra saw a 36.84% increase in MSP to Rs 1,950 per 100 kg.
The MSP of maize was increased 19.30% year-on-year to Rs 1,700 per kg.
In pulses, moong saw the maximum increase at 25.11% to Rs 6,975 per 100 kg, followed by arhar or tur at 4.13% to Rs 5,675 per 100 kg and urad at 3.70% to Rs 5,600 per 100 kg.
In oilseed, sunflower crop saw 31.42% increase to Rs 5,388 per 100 kg and soyabean at 11.44% to Rs 3,399 per 100 kg.
The MSP for cotton medium staple was increased 28.11% to Rs 5,150 per 100 kg.
New Delhi, Mar 22 (KNN) Despite a modest recession in the US and Europe,…
New Delhi, Mar 21 (KNN) In the fiscal year 2022-23, India’s economy is expected…
New Delhi, Mar 18 (KNN) V.V. Giri National Labour Institute (VVGNLI), an autonomous body of…
New Delhi, Mar 17 (KNN) In the next fiscal year the Indian economy is…
New Delhi, Mar 16 (KNN) India’s Foreign Trade Policy whose revision has been pending…