Government announces MSP hike for Rabi crops for the year 2018-19

Guwahati, October 4, 2018:

The Cabinet on Wednesday has approved to hike the Minimum Support Price (MSP) of Rabi crops, following a huge protest by farmers in Delhi NCR, demanding high support prices and loan waiver.

The decision has been announced according to the recommendations of farm advisory body Commission for Agricultural Costs and Prices (CACP).

The Cabinet Committee on Economic Affairs (CCEA), headed by Prime Minister Narendra Modi approved a 6 percent hike in wheat support price to Rs 1,840 per quintal for the year (2018-19). The decision is a move towards giving the farmers an additional profit of Rs 62,635 crore.

There is also a hike in the MSP of barley by Rs 30 per quintal to Rs 1,440 per quintal and Gram by Rs 220 per quintal to Rs 4,620 per quintal that has been raised by 75 percent than the cost of production.

Procurement agencies like Food Corporation of India and National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) would continue to provide price support to farmers for the Rabi crops.