The government has raised minimum support prices (MSP) of the rabi, or winter-sown, crops by up to 6.3% and announced the new rates a month before it usually does to reassure farmers that the new laws on agriculture will not dilute MSP operations.
New Delhi: The government has raised minimum support prices (MSP) of the rabi, or winter-sown, crops by up to 6.3% and announced the new rates a month before it usually does to reassure farmers that the new laws on agriculture will not dilute MSP operations. The Cabinet Committee on Economic Affairs (CCEA) approved higher prices of crops such as wheat and pulses on Monday.
The hike is in the range of 2.1% to 6.3% with maximum increase of ₹300 a quintal in the MSP of moong while the floor price of wheat has been increased by ₹50 a quintal.
The government normally announces MSP in October every year. This time it has advanced the announcement by a month, which officials said would blunt the opposition’s attack speculating the bills were aimed at ending MSP.
Get Unlimited Access to The Economic Times
