NEW DELHI, Oct 24: The Government on Tuesday increased the Minimum Support Prices (MSPs) of wheat and pulses by Rs 110 and Rs 200 per quintal respectively.
A decision to this effect was taken by the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi.
The Committee approved the MSPs of all rabi (winter-sown) crops for 2017-18. The move is aimed at boosting the output of these crops and check price rise. MSP is the rate at which government buys grain from farmers.
The CCEA approved Rs 110 per quintal hike in wheat MSP to Rs 1,735 per quintal for the 2017-18 rabi crop, up from Rs 1,625 per quintal last year.
To encourage the cultivation of gram and masoor, their MSPs have been raised by Rs 200 per quintal each to Rs 4,200 and Rs 4,150, the report said.
Among oilseeds, rapeseed/mustard and sunflower seed MSP has also been increased substantially. (UNI)
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