CCEA chaired by PM Modi clears 50-83% MSP hike for 14 kharif crops

Cabinet Committee on Economic Affairs (CCEA), chaired by PM Modi approved 50-83 per cent rise in the minimum support price (MSP) of 14 kharif crops

New Delhi: The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, here on Monday, approved 50-83 per cent rise in the minimum support price (MSP) of 14 kharif crops for the 2020-21 marketing season.

The highest MSP rise was proposed for nigerseed (Rs 755 per quintal), followed by sesamum (Rs 370 per quintal), urad (Rs 300 per quintal) and long staple cotton (Rs 275 per quintal), said Union Minister of Agriculture and Farmers Welfare Narendra Singh Tomar.

The differential remuneration was aimed at encouraging crop diversification, he added. The increase was in line with the 2018-19 budget announcement of finalising MSPs at least 1.5 times of the All-India weighted average cost of production (CoP) to allow reasonably fair return to farmers, said Tomar.

The expected returns for farmers will be the highest for bajra (83 per cent), followed by urad (64 per cent), tur (58 per cent) and maize (53 per cent). For other crops, the return is estimated to be at least 50 per cent. (IANS)

Also watch: Ninong Ering, MLA, East Siang, Arunachal Pradesh in an exclusive chat with Oineetom

CCEA

PM Modi

MSP hike

14 kharif crops

Top Headlines

No stories found.