Agriculture Market : Increase of MSP to boost rabi season productionHome

The Government has 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 Rs.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 Rs.3, 425 a quintal, while that of masur at Rs 3,325 for the 2015-16 rabi season. "The Cabinet has also decided to give additional bonus of Rs.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 Rs75 to Rs1, 525 a quintal for the 2015-16 rabi season, while the support price for rapeseed-mustard seed has been fixed at Rs 3,350 a quintal, an increase of Rs250. Similarly, the MSP for barley has also been increased by Rs75 a quintal to Rs1, 225, while that of safflower has been increased by Rs250 a quintal to Rs3, 300.Higher MSPs would increase investment and production through assured remunerative prices to farmers.

Source: http://www.thehindubusinessline.com/