Minister of Home Affairs Rajnath Singh has shown appreciation towards the decision by the Cabinet Committee on Economic Affairs (CCEA) of raising the Minimum Support Price (MSP) for Kharif crops in the 2018-19 season.
“It is a historical decision. Though farmers are the biggest producers, consumers and customers, they never received their due. However, this government is changing it now,” Rajnath Singh said while talking to the media.
In June this year, Prime Minister Narendra Modi had announced that the Union Cabinet would support an MSP of 150 percent of input cost in the 2018-19 season for Kharif crops.
“By 2022, the incomes of the farmers will be doubled, as promised by the government. This decision will increase the purchasing capacity of the farmers which in turn will widen the economic impact,” Rajnath Singh said at the Cabinet briefing.
According to the data of Commission for Agricultural Costs and Prices, the government has raised the MSP of paddy with input cost of Rs 1,166 from Rs 1,550 to Rs 1,750 per quintal. Further, the MSP of maize has been set at Rs 1,700 per quintal, Rs 5,150 for cotton, Rs 5,388 for sunflower seeds and Rs 3,399 per quintal for soyabean.