NEW DELHI, Jun 9 (NNN-PTI) – The Indian government, yesterday announced a hike in the minimum support prices (MSP) for crops, for the marketing season 2022-23.
The proposals to hike the MSPs were approved at a meeting of the Cabinet Committee on Economic Affairs, chaired by Prime Minister, Narendra Modi.
The MSPs of as many as 17 crops were hiked, in order to ensure remunerative prices to the growers for their produce, and to encourage crop diversification, said Minister of Information and Broadcasting, Anurag Thakur.
According to the minister, the increase in MSPs for crops was in line with the Union Budget 2018-19 announcement, of fixing the MSP at a level of at least 50 percent over the average cost of production, aiming at reasonably fair remuneration for the farmers.
An official statement said, concerted efforts had been made over the last few years, to realign the MSP in favour of oilseeds, pulses and coarse cereals, in a bid to encourage farmers to shift larger area under these crops, and adopt best technologies and farm practices, to correct the demand-supply imbalance.– NNN-PTI
