Day after farmer protest, govt hikes minimum support price for Rabi crops
New Delhi, Oct 3: A day after farmers demanding higher MSP prices and uniformity in loan waivers clashed with police at the UP Gate-Delhi border, the union cabinet on Wednesday approved a Rs 105 per quintal hike in the minimum support price of wheat to Rs 1,840 per quintal for 2018-19 season.
The Union Cabinet, chaired by Prime Minister Narendra Modi, in its meeting on Wednesday approved minimum support prices (MSP) of Rabi crops.
The MSP of wheat was Rs 1,735 per quintal in the 2017-18 crop year.
The MSP has been increased according to the recommendations of farm advisory body CACP and is in line with the government's announcement to provide farmers a 50 per cent profit over the cost of production.
"It will give additional return to the farmers of Rs 62,635 crore by way of increasing MSP of notified crops to at least 50 per cent over cost of production and will aid in doubling farmers' income," the Cabinet said in a statement.
On Tuesday, farmers from several states, including poll-bound Rajasthan and Madhya Pradesh, were stopped by police from completing the final leg of a ten-day Kisan Kranti Yatra by crossing the Uttar Pradesh border into Delhi.
Among the farmers' demands are the implementation of the Swaminathan report, lifting an NGT ban on 10-year-old tractors, uniform and complete procurement of crops, uniformity in loan waivers across the country, equal electricity tariff, a farmer-friendly insurance scheme, equal pension to both farmers and agricultural labourers and GST levied on farming equipment.
OneIndia News (with agency inputs)