Historical decision: Rajnath Singh on hike in MSP for Kharif crops

Updated: 04 Jul 2018 04:20 PM

New Delhi [India], Jul 4 (ANI): Home Minister Rajnath Singh on Wednesday applauded the decision by the Cabinet Committee on Economic Affairs (CCEA) of increasing the Minimum Support Price (MSP) for Kharif crops in the 2018-2019 season.

While briefing the media, he said, "It is a historical decision. Though farmers are the biggest producers, consumers and customers, they never received their due. However, this government is changing it now."

Last month, Prime Minister Narendra Modi had announced that the Union Cabinet would approve a Minimum Support Price (MSP) of 150 per cent of input cost for Kharif crops in the 2018-2019 season.

"By 2022, the incomes of the farmers will be doubled, as promised by the government. This decision will increase the purchasing capacity of the farmers which in turn will widen the economic impact," said Rajnath Singh at the Cabinet briefing.

According to the data of Commission for Agricultural Costs and Prices (CACP), the input cost of paddy is Rs 1166 per quintal for which government has set an MSP of Rs 1750 per quintal that is a hike of 50%, as compared to the MSP of Rs 1550 per quintal last year. Further, the MSP for maize has been fixed at Rs 1700 per quintal, for cotton Rs. 5150 per quintal, sunflower seeds Rs 5388 per quintal, soybean Rs. 3399 per quintal and mole Rs 6249 quintal. (ANI)

This story has not been edited. It has been published as provided by ANI