CCEA hikes Minimum Support Price of wheat and pulses

Posted on:16 Nov 2016 18:08:16

CCEA hikes Minimum Support Price of wheat and pulses
16 November 2016 Current Affairs GK: The Cabinet Committee on Economic Affairs (CCEA) has hiked the Minimum Support Price (MSP) of wheat and pulses to boost the output of these rabi crops and check prices. The MSP of wheat was hiked by 100 rupees per quintal for the 2016-17 rabi crop. The procurement cost of wheat will be 1,625 rupees per quintal against 1,525 rupees per quintal last year. The support price on Barley has been increased to 1,325 rupees from 1,225 rupees per quintal.

Masur: It has been raised to 3,950 rupees per quintal from 3,400 rupees.

Mustard and safflower: MSP have been hiked to 3,700 rupees per quintal each.

Gram: It has been raised to 4,000 rupees per quintal including bonus, from 3,500 rupees per quintal.

To incentivise cultivation of pulses and oilseeds, CCEA also announced a bonus on these crops over and above MSP.

Minimum Support Price (MSP) :  MSP is a form of agricultural market intervention undertaken by the Union Government in order to insure agricultural producers are protected against any sharp fall in farm prices. It is announced for certain crops by the Union Government prior to the sowing season. The prices are decided by CCEA on the basis of the recommendations of the Commission for Agricultural Costs and Prices (CACP).

Gk Current Affairs April 2017

29 APRIL
NEWS
28 APRIL
NEWS
27 APRIL
NEWS
26 APRIL
NEWS

Gk Current Affairs March 2017

31 MARCH
NEWS
30 MARCH
NEWS
29 MARCH
NEWS
28 MARCH
NEWS

Gk Current Affairs February 2017

28 FEBRUARY
NEWS
27 FEBRUARY
NEWS
25 FEBRUARY
NEWS
24 FEBRUARY
NEWS




Get Daily Current Affairs to your Email

You can Unsubscribe us at any time.

Get Daily Current Affairs to your Email

You can Unsubscribe us at any time.