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Govt hikes MSP for wheat by ₹85, pulses by ₹325 per quintal

The government on Wednesday hiked the minimum support price for wheat by ₹85 to ₹1,925 a quintal and for pulses by up to ₹325 per quintal.

A decision in this regard was taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA), headed by Prime Minister Narendra Modi.

The MSP is the rate at which the government buys grains from farmers.

“In a move to increase farmers’ income, the Cabinet has increased the MSP of rabi (winter-sown) crops for the current year,” Information and Broadcasting Minister Prakash Javadekar told reporters after the meeting.

“The CCEA has approved ₹85 per quintal hike in wheat MSP to ₹1,925 per quintal for the 2019-20 rabi crop, up from ₹1,840 per quintal last year. Barley MSP has also been increased by ₹85 to ₹1,525 per quintal from ₹1,440 per quintal last year.

“To encourage cultivation of pulses, the support price of masoor has been increased by ₹325 to ₹4,800 per quintal from ₹4,475 per quintal last year.”

Similarly, the MSP for gram has been hiked by ₹255 to ₹4,875 per quintal for this year from ₹4,620 per quintal last year. Among oilseeds, rapeseed/mustard MSP has been increased by ₹225 to ₹4,425 per quintal for 2019-20 rabi crop from ₹4,200 per quintal during 2018-19.

The minimum support price for safflower has been hiked by ₹270 to ₹5,215 per quintal from ₹4,945 per quintal last year. The MSP for rabi crops announced for this year is in line with the recommendation of the government’s farm price advisory body CACP.

Wheat is the main rabi crop, sowing of which will begin next month. The crop will be marketed from next April onwards.

Source: thehindu.com

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