HIKE IN MSP TO BOAST FARMERS INCOME

4 July 2018:

Cabinet has approved hike in MSP for Kharif Crops for 2018-19 Season

The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has approved the increase in the Minimum Support Prices (MSPs) for all kharif crops for 2018-19 Season.

The CCEA has redeemed its promise by fixing the MSPs at a level of at least by 150 which will includes all paid out costs such as those incurred on account of hired human labour, bullock labour/machine labour, rent paid for leased in land, expenses incurred on use of material inputs like seeds, fertilizers, manures, irrigation charges, etc.

The Budget for 2018-19 had indicated that there needs a shift in the policies to achieve the objective of doubling farmers' income by 2022 for generating higher incomes of farmers. The Food Corporation of India (FCI) and other designated State Agencies, National Agricultural Cooperative Marketing Federation of India Limited (NAFED), FCI, Small Farmers Agri -Business Consortium (SFAC) and other designated Central Agencies, Cotton Corporation of India (CCI) will be undertaking price support operations for different products.

The Government has also announced farmer friendly initiatives besides increase in the MSP of kharif crops like insuring the crops, quick estimation and early settlements of claims by launching Mobile Apps; scheme to develop a pan India electronic trading platform under 'National Agriculture Market' (NAM) to provide e-market, Soil Health Cards, promoting organic farming and development under ParamparagatKrishiVikasYojana (PKVY), improving  production and productivity of crops under the National Food Security Mission, etc.

With the above measures taken, the Government has set a target to double the farmers' Income by 2022.