Better later than never: MS Swaminathan on MSP at 1.5 times cost of production

WION Web Team
New Delhi, Delhi, IndiaUpdated: Feb 02, 2018, 08:43 AM IST
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Swaminathan Photograph:(Twitter)

MS Swaminathan, who is thought of as one of the chief architects of India's "green revolution", said Friday that it was "better later than never" that the government was now offering farmers an MSP of 1.5 times the cost of production of their kharif crops. 

"Farmers will be more happy," Swaminathan added. 

The announcement had been made Thursday by Finance Minister Arun Jaitley in his Budget speech

MSP or minimum support price is the price the government buys farmers' crops at. 

Swaminathan added that the formula had been recommended to the government over 10 years ago. 

"Budget says that crops for which MSP is not announced, they will have MSP at 1.5 times cost of production. I am happy that after over 10 years that we recommended this formula,govt has accepted it. Better late than never. Farmers will be more happy," Swaminathan said.