By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
NorthBridge TimesNorthBridge Times
  • Auto
    • Bikes
  • Entertainment
    • Bollywood
    • Celebrity
    • Hollywood
  • Events
  • Festival
    • Diwali
    • Holi
  • Sports
    • NBA
    • Basket Ball
    • Cricket
    • Hockey
  • Health
    • COVID-19
  • Technology
Search
© 2022 NorthBridge Times. All Rights Reserved.
Reading: Government Announced Biggest Hikes in Minimum Support Price for Wheat and Pulses
Share
Aa
NorthBridge TimesNorthBridge Times
Aa
Search
Follow US
© 2022 NorthBridge Times. All Rights Reserved.




Home – Business

Government Announced Biggest Hikes in Minimum Support Price for Wheat and Pulses
Business

Government Announced Biggest Hikes in Minimum Support Price for Wheat and Pulses

Amandeep Singh
Amandeep Singh Published November 16, 2016
Last updated: 2016/11/16 at 3:17 PM
Share
3 Min Read
SHARE

The union Cabinet Committee on Economic Affairs (CCEA) on Wednesday raised the minimum support price for the 2017-18 marketing season that starts from April by a hefty Rs 100 per quintal, the biggest increase so far in the current Prime Minister Modi-led NDA government.

The increase which in percentage terms translates into a 6.6 percent hike is more than the RS 50 and 75 per quintal rise in wheat MSPs announced in the last two years.

Government Announced Biggest Hikes in Minimum Support Price for Wheat and Pulses

This decision is said to be taken with an eye on the elections in the states like Punjab and Uttar Pradesh and also towards the government’s vision to double the income of farmers by 2020.

New Minimum Support Price(MSP) for the 2017-18 marketing season

The MSP’s of chana has been raised by up to Rs 500 per quintal and masur by Rs 550 per quintal, while that of mustard has been increased by Rs 350 per quintal.

“Wheat has been hiked by 6.6 per cent, barley 8.2 per cent and including bonus, gram 14.3 per cent, masur 16.2 per cent, rapeseed/mustard 10.4 per cent, safflower 12.1 per cent,” an official spokesperson said.

Government Announced Biggest Hikes in Minimum Support Price for Wheat and Pulses

He added saying that “Further, to incentivise cultivation of pulses and oilseeds, a bonus on these crops over MSP has been announced.”

Gram MSP has been hiked to Rs 4,000 per quintal, including bonus, from Rs 3,500 per quintal in the previous year, while support price of masur has been raised to Rs 3,950 per quintal from Rs 3,400 per quintal.

The Agriculture Ministry had proposed the support price of gram and masur at Rs 4,000 per quintal each, including bonus, for the rabi season to boost domestic output, reduce the country’s dependence on imports, and check prices.

The government is targeting 20.75 million tonnes of pulses production this year on account of good monsoon. It expects 13.5 mt of output from the ensuing rabi season while 8.7 mt is estimated to have been harvested in the just-completed kharif season.

Government Announced Biggest Hikes in Minimum Support Price for Wheat and Pulses
Union Agriculture Minister Radha Mohan Singh

Wheat production in 2016-17 as per official estimates is around 94 million tonnes, while traders said it is below 90 million tonnes because of consecutive drought.

Food Corporation of India (FCI) will be the designated central nodal agency for price support operations for cereals, pulses and oilseeds.

To supplement the efforts of FCI, the National Agricultural Cooperative Marketing Federation of India Limited (NAFED), National Cooperative Consumers’ Federation (NCCF), Central Warehousing Corporation (CWC) and Small Farmers Agri – Business Consortium (SFAC) may also undertake procurement of oilseeds and pulses as per their capacity.

You Might Also Like

Apple Current Worth is More Than Alphabet, Amazon and Meta Combined

Stock Market: Asian Markets Looking Strong

Managing a Small Business: 5 Tips for Long Term Growth

Which marketing techniques are likely to benefit your manufacturing business?

Positive Changes You Should Make Within Your Business to Move Forwards

TAGGED: Marketing Season 2017-18, Minimum Support Price, MSP, Wheat and Pulses

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Amandeep Singh November 16, 2016
Share this Article
Facebook TwitterEmail Print
Share
Previous Article Sushma Swaraj admitted at AIIMS for Kidney failure, undergoes dialysis, reveals on twitter Sushma Swaraj admitted at AIIMS for Kidney failure, undergoes dialysis, reveals on twitter
Next Article refurbished Note 7 Refurbished Note 7 Coming to India and Vietnam in 2017 – Report
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.




Latest News

Apple Current Worth is More Than Alphabet, Amazon and Meta Combined
Apple Current Worth is More Than Alphabet, Amazon and Meta Combined
Business Economy November 7, 2022
Stock Market: Asian Markets Looking Strong
Stock Market: Asian Markets Looking Strong
Economy Business November 7, 2022
Home Study Courses
Managing a Small Business: 5 Tips for Long Term Growth
Business May 7, 2022
Medical Supplies Can Protect You When You Work With Radiation
Which marketing techniques are likely to benefit your manufacturing business?
Business February 17, 2022

You Might also Like

Apple Current Worth is More Than Alphabet, Amazon and Meta Combined
BusinessEconomy

Apple Current Worth is More Than Alphabet, Amazon and Meta Combined

November 7, 2022
Stock Market: Asian Markets Looking Strong
EconomyBusiness

Stock Market: Asian Markets Looking Strong

November 7, 2022
Home Study Courses
Business

Managing a Small Business: 5 Tips for Long Term Growth

May 7, 2022
Medical Supplies Can Protect You When You Work With Radiation
Business

Which marketing techniques are likely to benefit your manufacturing business?

February 17, 2022

NBT

We influence 20 million users and is the number one business and technology news network on the planet.

Quick Link

  • Home
  • About Us
  • Contact Us
  • Privacy Policy
  • Advertise With Us
March 2023
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Feb    
NorthBridge TimesNorthBridge Times
Follow US

© 2015-2022 NorthBridge Times. All Rights Reserved.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?