Centre Approves MSP For 14 Crops, Says It Is 1.5 Times Cost Of Production
4 months ago
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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.
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