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The Government on Thursday announced an increase in minimum support price (MSP) for key rabi season or winter crops such as wheat, mustard and gram.
The Cabinet Committee on Economic Affairs approved MSP increase of ₹250 a quintal for rabi pulses such as masoor (lentil) and gram in a bid to boost production in the current season which will be marketed in 2016-17.
MSP for gram has been fixed at ₹3,425 a quintal, while that of masur at ₹3,325 for the 2015-16 rabi season.
“Over and above the CACP recommendations, the Cabinet has also decided to give additional bonus of ₹75 a quintal for gram and masoor. This will give some more relief to farmers,” Union Minister Piyush Goyal said.
Wheat MSP has been increased by ₹75 to ₹1,525 a quintal for the 2015-16 rabi season, while the support price for rapeseed-mustard seed has been fixed at ₹3,350 a quintal, an increase of ₹250. Similarly, the MSP for barley has also been increased by ₹75 a quintal to ₹1,225, while that of safflower has been increased by ₹250 a quintal to ₹3,300.
This decision was based on recommendations of Commission for Agricultural Costs and Prices (CACP).
Higher MSPs would increase investment and production through assured remunerative prices to farmers, an official statement added.
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