New Delhi, Oct 9 (UNI) The Cabinet Committee on Economic Affairs (CCEA) today substantially hiked the Minimum Support Prices(MSP) for Rabi crops for 2007-08, including a 33.33 per cent increase over last year in MSP of wheat to Rs 1,000 per quintal.
The MSP for wheat was Rs 750 per quintal in 2006-07 and has now been increased to Rs 1,000 per quintal, an increase of Rs 250 per quintal.
In the case of Barley, the MSP which stood at Rs 565 per quintal for 2006-07 has been increased to Rs 650 per quintal,a change of Rs 85 per quintal. This represents an increase of nearly 15 per cent, The MSP for gram has been increased by 10.73 per cent up from Rs 1445 per quintal to Rs 1600 per quintal. This is an increase of Rs 155 per quintal.
The new MSP for Masur (Lentil) will be Rs 1700 per quintal for 2007-08 up from Rs 1545 per quintal in 2006-07, which is an increase of Rs 155 per quintal or 10.03 per cent.
In the case of Rapeseed and mustard, the increase is from Rs 1715 per quinatl in 2006-07 to Rs 1800 per qunital in 2007-08. The increase is Rs 85 per quintal or 4.96 per cent.
For Safflower, the new MSP will be Rs 1650 per quintal for 2007-08 up from Rs 1565 per quintal. The increase if Rs 85 per quinatl or 5.43 per cent.
Briefing newspersons on the outcome of the CCEA meeting, Finance Minister P Chidambaram said the changes have been made on the recommendations made by the CCAP.