17 अक्टूबर 2013
Govt hikes wheat MSP by Rs 50 per quintal
New Delhi, Oct 17. The government today raised the
minimum support price (MSP) for wheat by Rs 50 to Rs 1,400 per
quintal to encourage farmers to cover more area under the crop
in the ongoing rabi season.
The increase in wheat MSP by Rs 50 per quintal is the
same as recommended by the government advisory body,
Commission for Agriculture Costs and Prices (CACP), but lower
than what was proposed by the Agriculture Ministry due to
concern over inflation.
"Wheat MSP has been increased by Rs 50 per quintal to Rs
1,400 for 2013-14 crop year as against Rs 1,350 last year",
Food Minister K V Thomas said.
The Cabinet Committee on Economic Affairs (CCEA) has also
approved the MSP of other rabi crops for 2013-14 crop year
(Jule-June) to be marketed in the 2014-15.
The agriculture ministry had proposed an increase of Rs
100 per quintal to Rs 1,450 per quintal in wheat MSP for the
2014-15 marketing year (April-March).
When asked for the reasons for rejecting the Agriculture
Ministry proposal, Thomas said: "We are concerned about
inflation and we can control prices of foodgrains which we
procure"
The increase in wheat MSP is likely to lead to a rise in
the government food subsidy bill in the next fiscal and may
also put pressure on inflation.
The government procures wheat from farmers at MSP during
April-June. Wheat is the main crop grown in the rabi
(winter) season.
Wheat MSP is the rate at which government buys the grain
from farmers.
Wheat's sowing begins in October and harvesting starts
from April onwards.
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