New Delhi: Government on Wednesday hiked Minimum Support Prices (MSPs) of 22 mandated agricultural crops and Fair & Remunerative Price (FRP) for Sugarcane on the basis of recommendations of Commission for Agricultural Costs & Prices (CACP).
Among the Kharif Crops, the MSP of Paddy has been hiked from Rs 1550 to Rs 1750, Jowar from Rs 1700 to Rs 2430, Bajra from Rs 1425 to Rs 1950, Cotton from Rs 4020 to Rs 5150, Arhar from Rs 5450 to Rs 5675, and Moong from Rs 5575 to Rs 6975, to name a few.
Among Rabi crops, the MSP of Wheat has been hiked from Rs 1735 to Rs 1840, Barley from Rs 1410 to Rs 1440, Masur from Rs 4250 to Rs 4475.
Fair and Remunerative Prices (FRP) for Sugarcane has been hiked from Rs 255 to Rs 275 .
In addition, MSP for Toria and De-Husked coconut is also fixed on the basis of MSPs of Rapeseed/Mustard and Copra respectively.
“The Union Budget for 2018-19 had announced the pre-determined principle to keep MSPs at levels of one and half times the cost of production for all mandated crops. Accordingly, Government has increased MSPs for all mandated agricultural crops for the season 2018-19,” an official release said.
“This decision of the Government was a historic one as it fulfills the commitment to the farmers to provide 50 per cent return over cost of production for the first time,” it added.