In order to woo the farmers just before the 2019 general elections, the Union Cabinet today approved the Minimum Support Price (MSP) for Kharif crops for 2018-19.The move to hike the MSP for Kharif crops is in line with the government's Budget announcement of hiking the support price by one-and-a-half times of the production cost for Kharif crops.The MSP for paddy for 2018-19 has been hiked by around Rs 200 per quintal, according to media reports.The MSP for paddy for 2017-18 was Rs 1550 per quintal. #BREAKING | Ram Vilas Paswan: Govt ups ragi MSP to Rs 2,897/100 kg vs Rs 1,900/100 kg earlier: Cogencis @irvpaswan… https://t.co/mGwABaIrKD— ET NOW (@ETNOWlive) 1530688545000 #BREAKING | Food Minister Ram Vilas Paswan on #MSPHike @irvpaswan @29_ruchibhatia @tyagi_parisha @BJP4India… https://t.co/H8gXHhAHGI— ET NOW (@ETNOWlive) 1530688609000 The additional bill is likely to be around Rs 33,500 crore. The added cost of MSP is 0.2% of GDP, according to the cabinet note. The share of paddy in the additional outgo will be around Rs 12,300 crore.NITI Aayog vice chairman Rajiv Kumar said that the fears over inflation due to hike in MSP are misplaced. The sole focus of the MSP hike is farmer's welfare, added Rajiv Kumar.
from The Economic Times https://ift.tt/2tRhUuA
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment