Centre Approves MSP For 14 Crops, Says It Is 1.5 Times Cost Of Production

In a major decision, the Union Cabinet has approved a minimum support price of at least cost plus 50% for 14 crops ahead of the Kharif sowing season. The minimum support price of paddy has been increased by Rs 117, Information and Broadcasting Minister Ashwini Vaishnaw said at a Cabinet briefing on Wednesday.  

A legal guarantee for minimum support price (MSP) has been a long-standing demand of farmers who have staged large-scale protests, including some held earlier this year, to press for it. 

“Prime Minister Narendra Modi has always given preference to farmers. The first decision in the third term was taken for farmers. In today’s Cabinet meeting also, a very important decision was taken for the welfare of farmers. The Kharif season is beginning and the Cabinet has approved a minimum support price of 14 crops for the season,” Mr Vaishnaw said.