The Indian government, on Wednesday (June 7) approved the increase of the Minimum Support Price (MSP) for all mandated Kharif crops for the marketing season 2023-24.&nbsp;

The announcement was made by the Indian Minister of Food and Consumer Affairs Minister Piyush Goyal after a meeting of the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi.&nbsp;

The highest increase in MSP was noted in Moong by 10.4 per cent at Rs 8,558 ($104) per quintal this year which is up from Rs 7,755 ($93.98) per quintal last year.&nbsp;

<h2>What is the increased MSP and why?</h2>

The Indian minister has said that the MSP of common grade variety of paddy has been increased by Rs 143 ($1.73) to Rs 2,183 ($26.5) per quintal for the 2023-24 crop year which is also risen&nbsp;from Rs 2,040 ($25) in the previous year. Additionally, the support price of the ‘A’ grade variety of paddy has been hiked by Rs 163 ($1.98) to Rs 2,230 ($27) per quintal from Rs 2,060 ($24.96). &nbsp;&nbsp;

“This move is to ensure remunerative prices to the growers for their produce and to encourage crop diversification,” said Goyal while addressing a press conference after the meeting.&nbsp;

The Indian minister also noted that the Kharif crops are estimated to be 330 million tonnes this year compared to 285 million tonnes in 2018-19, which is also said to be the highest increase in the last five years.&nbsp;

He added, “In agriculture, we have been fixing MSP from time to time based on the recommendations of the CACP (Commission for Agricultural Costs and Prices). The increase in MSP of Kharif crops for this year is highest compared to the previous years.”&nbsp;

The raise is also in line with the Union Budget 2018-19 announcement of fixing the MSP at least 1.5 times the All-India weighted average cost of production which was aimed at “fair remuneration for the farmers.”&nbsp;

The Indian government in a statement also stated, “The expected margin to farmers over their cost of production are estimated to be highest in case of bajra (82 per cent) followed by tur (58 per cent), soybean (52 per cent) and urad (51 per cent).” It added, “For (the) rest of the crops, margin to farmers over their cost of production is estimated to be at least 50 per cent.”&nbsp;

This also comes as the Indian government is moving to&nbsp;boost rice output after it banned exports of broken rice, last year, while also imposing a 20 per cent tax on exports to calm domestic prices.&nbsp;

<h2>Monsoon conditions in India</h2>

Notably, paddy is the main Kharif crop, the sowing for which begins during the onset of the southwest monsoon. The India Meteorological Department (IMD) has projected a normal monsoon for the June-September period despite the El Nino climate pattern. However, the monsoon has missed its offset in the Indian state of Kerala.&nbsp;

(With inputs from agencies)&nbsp; 
 
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The Indian government, on Wednesday (June 7) approved the increase of the Minimum Support Price (MSP) for all mandated Kharif crops for the marketing season 2023-24.

The Indian government, on Wednesday (June 7) approved the increase of the Minimum Support Price (MSP) for all mandated Kharif crops for the marketing season 2023-24. The announcement was made by the Indian Minister of Food and Consumer Affairs Minister Piyush Goyal after a meeting of the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi. The highest increase in MSP was noted in Moong by 10.4 per cent at Rs 8,558 ($104) per quintal this year which is up from Rs 7,755 ($93.98) per quintal last year. What is the increased MSP and why? The Indian minister has said that the MSP of common grade variety of paddy has been increased by Rs 143 ($1.73) to Rs 2,183 ($26.5) per quintal for the 2023-24 crop year which is also risen from Rs 2,040 ($25) in the previous year. Additionally, the support price of the ‘A’ grade variety of paddy has been hiked by Rs 163 ($1.98) to Rs 2,230 ($27) per quintal from Rs 2,060 ($24.96). “This move is to ensure remunerative prices to the growers for their produce and to encourage crop diversification,” said Goyal while addressing a press conference after the meeting. The Indian minister also noted that the Kharif crops are estimated to be 330 million tonnes this year compared to 285 million tonnes in 2018-19, which is also said to be the highest increase in the last five years. He added, “In agriculture, we have been fixing MSP from time to time based on the recommendations of the CACP (Commission for Agricultural Costs and Prices). The increase in MSP of Kharif crops for this year is highest compared to the previous years.” The raise is also in line with the Union Budget 2018-19 announcement of fixing the MSP at least 1.5 times the All-India weighted average cost of production which was aimed at “fair remuneration for the farmers.” The Indian government in a statement also stated, “The expected margin to farmers over their cost of production are estimated to be highest in case of bajra (82 per cent) followed by tur (58 per cent), soybean (52 per cent) and urad (51 per cent).” It added, “For (the) rest of the crops, margin to farmers over their cost of production is estimated to be at least 50 per cent.” This also comes as the Indian government is moving to boost rice output after it banned exports of broken rice, last year, while also imposing a 20 per cent tax on exports to calm domestic prices. Monsoon conditions in India Notably, paddy is the main Kharif crop, the sowing for which begins during the onset of the southwest monsoon. The India Meteorological Department (IMD) has projected a normal monsoon for the June-September period despite the El Nino climate pattern. However, the monsoon has missed its offset in the Indian state of Kerala. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Indian government raises MSP for Kharif crops for 2023-24, highest increase in moong

In order to break the dominance and reduce dependence on China in mining and processing rare earth minerals, the United States recently announced the formation of a global alliance called the Mineral Security Partnership (MSP).&nbsp;

Apart from the US, the other countries to have joined this partnership are: Australia, Canada, Finland, France, Germany, Japan, the Republic of Korea, Sweden, the UK, and the European Commission.

The partnership was announced at the world’s largest mining event, held in Toronto in June.&nbsp;

“Demand for critical minerals, which are essential for clean energy and other technologies, is projected to expand significantly in the coming decades. The MSP will help catalyse investment from governments and the private sector for strategic opportunities — across the full value chain — that adhere to the highest environmental, social, and governance standards,” the US State Department said in a statement issued on June 14.

However, as per reports, there have been growing concerns in India over being left out of the US-led partnership that seeks to end dependency on China. And New Delhi’s apprehension is quite justified given that the country has been pushing for EV and electronics, for which rare earth minerals are needed.

What is MSP?

Minerals Security Partnership (MSP) is an ambitious new alliance formed by the US to secure supply chains of critical minerals. It comes in the backdrop of recorded demand for critical minerals, which are essential for&nbsp;clean energy&nbsp;and other technologies.

The goal of the alliance is to ensure that critical minerals are produced, processed, and recycled&nbsp;in a manner that supports the ability of countries to realise the full economic development benefit of their geological endowments.

The focus would be on the supply chains of minerals such as&nbsp;Cobalt, Nickel, Lithium&nbsp;and also the 17 “rare earth” minerals.

What is a critical mineral?

There is no global definition of critical minerals, but essentially, they are mineral deposits with high economic vulnerability and high global supply chain risk.

Rare earth (RE) comprises seventeen elements and are classified as light RE elements (LREE) and heavy RE elements (HREE).

There is an immense range of these of course and many countries already have their own specific lists of what they currently consider critical minerals – depending on their industrial production requirements.

But globally, there is a gap between projected supply and projected demand for many critical minerals by the end of this decade, especially in cobalt and lithium.

What are major critical minerals?

The major critical minerals are Graphite, Lithium and Cobalt. They are used for making EV batteries and are also critical for making semiconductors and high-end electronics manufacturing.

These minerals are also used in manufacturing fighter jets,&nbsp;drones,&nbsp;radio sets&nbsp;and other critical equipment, hence it is critical for aerospace, communications and defence industries.

Who are the top producers of critical minerals?

According to a report released by the International Energy Agency in 2021 and subsequently updated in March 2022, the major producers of critical minerals globally are Chile, Indonesia, Congo, China, Australia and South Africa.

In terms of processing, China rules the roost. While others include Indonesia, Chile and Japan.

Notably, none of these countries, except Japan and Australia, are represented in the MSP.

India’s concerns

Some of the rare earth elements available India are: Lanthanum, Cerium, Neodymium, Praseodymium and Samarium. While others classified as heavy RE elements such as Dysprosium, Terbium, Europium are not available in extractable quantity.

India relies heavily on China for HREE, which is one of the leading producers with an estimated 70 per cent of the global production.

Hence, there is a lot at stake for India. Which is why Union Finance Ministry, according to The Indian Express, have reportedly communicated with the Ministry of External Affairs to explore the possibility of how New Delhi can join the 11-member group.

(With inputs from agencies)

In order to break the dominance and reduce dependence on China in mining and processing rare earth minerals, the United States recently announced the formation of a global alliance called the Mineral Security Partnership (MSP).

In order to break the dominance and reduce dependence on China in mining and processing rare earth minerals, the United States recently announced the formation of a global alliance called the Mineral Security Partnership (MSP). Apart from the US, the other countries to have joined this partnership are: Australia, Canada, Finland, France, Germany, Japan, the Republic of Korea, Sweden, the UK, and the European Commission. The partnership was announced at the world’s largest mining event, held in Toronto in June. “Demand for critical minerals, which are essential for clean energy and other technologies, is projected to expand significantly in the coming decades. The MSP will help catalyse investment from governments and the private sector for strategic opportunities — across the full value chain — that adhere to the highest environmental, social, and governance standards,” the US State Department said in a statement issued on June 14. However, as per reports, there have been growing concerns in India over being left out of the US-led partnership that seeks to end dependency on China. And New Delhi’s apprehension is quite justified given that the country has been pushing for EV and electronics, for which rare earth minerals are needed. What is MSP? Minerals Security Partnership (MSP) is an ambitious new alliance formed by the US to secure supply chains of critical minerals. It comes in the backdrop of recorded demand for critical minerals, which are essential for clean energy and other technologies. The goal of the alliance is to ensure that critical minerals are produced, processed, and recycled in a manner that supports the ability of countries to realise the full economic development benefit of their geological endowments. The focus would be on the supply chains of minerals such as Cobalt, Nickel, Lithium and also the 17 “rare earth” minerals. What is a critical mineral? There is no global definition of critical minerals, but essentially, they are mineral deposits with high economic vulnerability and high global supply chain risk. Rare earth (RE) comprises seventeen elements and are classified as light RE elements (LREE) and heavy RE elements (HREE). There is an immense range of these of course and many countries already have their own specific lists of what they currently consider critical minerals – depending on their industrial production requirements. But globally, there is a gap between projected supply and projected demand for many critical minerals by the end of this decade, especially in cobalt and lithium. What are major critical minerals? The major critical minerals are Graphite, Lithium and Cobalt. They are used for making EV batteries and are also critical for making semiconductors and high-end electronics manufacturing. These minerals are also used in manufacturing fighter jets, drones, radio sets and other critical equipment, hence it is critical for aerospace, communications and defence industries. Who are the top producers of critical minerals? According to a report released by the International Energy Agency in 2021 and subsequently updated in March 2022, the major producers of critical minerals globally are Chile, Indonesia, Congo, China, Australia and South Africa. In terms of processing, China rules the roost. While others include Indonesia, Chile and Japan. Notably, none of these countries, except Japan and Australia, are represented in the MSP. India’s concerns Some of the rare earth elements available India are: Lanthanum, Cerium, Neodymium, Praseodymium and Samarium. While others classified as heavy RE elements such as Dysprosium, Terbium, Europium are not available in extractable quantity. India relies heavily on China for HREE, which is one of the leading producers with an estimated 70 per cent of the global production. Hence, there is a lot at stake for India. Which is why Union Finance Ministry, according to The Indian Express, have reportedly communicated with the Ministry of External Affairs to explore the possibility of how New Delhi can join the 11-member group. (With inputs from agencies)

What is Minerals Security Partnership that seeks to end China's dominance and why is India keen to join it?

Having weathered rain, heat, and bone-chilling cold for over one-and-a-half years, during which around 600 lives were lost, the farmers on Thursday decided to suspend their agitation after the government repealed three controversial agriculture laws.

The farmers have said that they will vacate Singhu, Tikri and Ghazipur borders in Delhi after holding a victory parade on Saturday.

Announcing the decision, Samyukt Kisan Morcha (SKM)— an umbrella of various farmers' unions—said they would meet again in Delhi on January 15 to see the progress on the promises made by the government.

“We have decided to suspend our agitation. We will hold a review meeting on January 15. If the government doesn't fulfil its promises, we could resume our agitation,” ANI news agency quoted farmer leader Gurnam Singh Charuni as saying.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/indian-pm-modi-repeals-three-controversial-farm-laws-asks-protesting-farmers-to-return-home-430403">Indian PM Modi repeals three controversial farm laws, asks protesting farmers to return home</a>

The decision was taken at a meeting of the SKM earlier in the day after a draft proposal from the government was received on the pending issues of farmers.&nbsp;

The demands of the farmers include a law on the minimum support price (MSP), withdrawal of the draft Electricity Amendments Bill, 2020/2021, withdrawal of criminal cases against farmers and compensation for the families of farmers who died during the year-long protest against the three farm laws, now repealed.&nbsp;

Earlier, the protesting farmers had received a letter from the Government of India, with promises of forming a committee on MSP and withdrawing cases against them immediately.

“As far as the matter of compensation is concerned, UP and Haryana have given in-principle consent,” the letter reads.

Also read |&nbsp;&nbsp;<a href="https://www.wionews.com/india-news/un-chief-comments-on-farmers-protest-in-india-347867">UN chief comments on farmers protest in India</a>

However, the final decision on ending the year-long farmers’ agitation would be taken by the Samyukt Kisan Morcha (SKM), according to the farmers.

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Farmers start removing tents from their protest site in Singhu on Delhi-Haryana 
 
"We are preparing to leave for our homes, but the final decision will be taken by Samyukt Kisan Morcha," a farmer says <a href="https://t.co/rzRjPkPfE1">pic.twitter.com/rzRjPkPfE1</a>
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On November 19, Prime Minister Narendra Modi had in a national address announced that his government would be repealing the three contentious farm laws&nbsp;and urged farmers to return home.

However, farmers refused to budge from their spot as they asserted that they would leave only after a MSP guarantee and other demands were met.

Last Saturday, the SKM, which has been spearheading the agitation, formed a five-member panel on Saturday to hold talks with the government on the pending demands and had declared that a decision on withdrawing the agitation would be taken by Wednesday.

(With inputs from agencies)

Having weathered rain, heat, and bone-chilling cold for over one-and-a-half years, during which around 600 lives were lost, the farmers on Thursday decided to suspend their agitation after the government repealed three controversial agriculture laws.

Having weathered rain, heat, and bone-chilling cold for over one-and-a-half years, during which around 600 lives were lost, the farmers on Thursday decided to suspend their agitation after the government repealed three controversial agriculture laws. The farmers have said that they will vacate Singhu, Tikri and Ghazipur borders in Delhi after holding a victory parade on Saturday. Announcing the decision, Samyukt Kisan Morcha (SKM)— an umbrella of various farmers' unions—said they would meet again in Delhi on January 15 to see the progress on the promises made by the government. “We have decided to suspend our agitation. We will hold a review meeting on January 15. If the government doesn't fulfil its promises, we could resume our agitation,” ANI news agency quoted farmer leader Gurnam Singh Charuni as saying. Also read | Indian PM Modi repeals three controversial farm laws, asks protesting farmers to return home The decision was taken at a meeting of the SKM earlier in the day after a draft proposal from the government was received on the pending issues of farmers. The demands of the farmers include a law on the minimum support price (MSP), withdrawal of the draft Electricity Amendments Bill, 2020/2021, withdrawal of criminal cases against farmers and compensation for the families of farmers who died during the year-long protest against the three farm laws, now repealed. Earlier, the protesting farmers had received a letter from the Government of India, with promises of forming a committee on MSP and withdrawing cases against them immediately. “As far as the matter of compensation is concerned, UP and Haryana have given in-principle consent,” the letter reads. Also read | UN chief comments on farmers protest in India However, the final decision on ending the year-long farmers’ agitation would be taken by the Samyukt Kisan Morcha (SKM), according to the farmers. Farmers start removing tents from their protest site in Singhu on Delhi-Haryana "We are preparing to leave for our homes, but the final decision will be taken by Samyukt Kisan Morcha," a farmer says pic.twitter.com/rzRjPkPfE1 — ANI (@ANI) December 9, 2021 × On November 19, Prime Minister Narendra Modi had in a national address announced that his government would be repealing the three contentious farm laws and urged farmers to return home. However, farmers refused to budge from their spot as they asserted that they would leave only after a MSP guarantee and other demands were met. Last Saturday, the SKM, which has been spearheading the agitation, formed a five-member panel on Saturday to hold talks with the government on the pending demands and had declared that a decision on withdrawing the agitation would be taken by Wednesday. (With inputs from agencies)

Farmers suspend year-long agitation after assurances from Indian govt to look into demands

The union cabinet on Wednesday took five major decisions including ownership rights to 40 lakh people living in unauthorised colonies in Delhi, reform in petroleum sector, cadre review of ITBP officers, merger of MTNL with BSNL and increase in MSP of rabi crops.

Briefing reporters after meeting of union cabinet, Information and Broadcasting Minister Prakash Javadekar said that increase in minimum support price (MSP) of cereals, pulses and oilseeds of rabi crops will give a big boost to farmers.

"The MSP for wheat and barley has been increased by Rs 85, gram by Rs 255, masur (lentil) by Rs 325 and mustard by Rs 225. This has been done to double the income of farmers and give them justice," Javadekar said.

He said the allowance under PM-Kisan Yojna has reached eight crore farmers.

He said a decision has been taken to conduct cadre review of ITBP and it will lead to creation of 60 new posts of A category.

"The last cadre review was done in 2001 when there were 32,000 personnel in the ITBP. Now there are 88,000," he said.

Union Housing and Urban Affairs Minister Hardeep Singh Puri and Communications and Electronics and Information Technology Minister Ravi Shankar Prasad were also present at the press conference.&nbsp;

Javadekar said that decisions on "a big reform" had been taken in the petroleum sector in the meeting.

"New companies can now open retail petrol outlets in the country. This will increase investment and give the consumers more options and also increase competitiveness in the market," Javadekar said.The minister said the cabinet has approved merger of Mahanagar Telephone Nigam Limited (MTNL) with Bharat Sanchar Nigam Limited (BSNL).&nbsp; 
&nbsp;

The union cabinet on Wednesday took five major decisions including ownership rights to 40 lakh people living in unauthorised colonies in Delhi, reform in petroleum sector, cadre review of ITBP officers, merger of MTNL with BSNL and increase in MSP of rabi crops.

The union cabinet on Wednesday took five major decisions including ownership rights to 40 lakh people living in unauthorised colonies in Delhi, reform in petroleum sector, cadre review of ITBP officers, merger of MTNL with BSNL and increase in MSP of rabi crops. Briefing reporters after meeting of union cabinet, Information and Broadcasting Minister Prakash Javadekar said that increase in minimum support price (MSP) of cereals, pulses and oilseeds of rabi crops will give a big boost to farmers. "The MSP for wheat and barley has been increased by Rs 85, gram by Rs 255, masur (lentil) by Rs 325 and mustard by Rs 225. This has been done to double the income of farmers and give them justice," Javadekar said. He said the allowance under PM-Kisan Yojna has reached eight crore farmers. He said a decision has been taken to conduct cadre review of ITBP and it will lead to creation of 60 new posts of A category. "The last cadre review was done in 2001 when there were 32,000 personnel in the ITBP. Now there are 88,000," he said. Union Housing and Urban Affairs Minister Hardeep Singh Puri and Communications and Electronics and Information Technology Minister Ravi Shankar Prasad were also present at the press conference. Javadekar said that decisions on "a big reform" had been taken in the petroleum sector in the meeting. "New companies can now open retail petrol outlets in the country. This will increase investment and give the consumers more options and also increase competitiveness in the market," Javadekar said.The minister said the cabinet has approved merger of Mahanagar Telephone Nigam Limited (MTNL) with Bharat Sanchar Nigam Limited (BSNL).

Increase in MSP, merger of MTNL with BSNL among major decisions of cabinet

The agriculture ministry will soon move a Cabinet note seeking approval for a new policy that aims to rope in both states and private firms in the procurement of other crops than wheat and paddy, for ensuring MSP to farmers, a senior government official said. The objective of the proposed policy is to improve the speed of response and effectiveness of procurement in cases when prices drop below the minimum support price (MSP).

The ministry has proposed three models — Market Assurance Scheme (MAS), Price Deficiency Procurement Scheme (PDPS) and Private Procurement and Stockists Scheme — after consultations with an informal group of ministers, headed by Home Minister Rajnath Singh, as well as with state governments. “The agriculture ministry is preparing a Cabinet note on this. The policy aims to give liberty to states to implement either one of the models of procurement,” the senior government official said.

In case of MAS, the official said, it is to be implemented by state governments who can take immediate decisions on the basis of local conditions, to enter the market and begin procurement through their own state agencies or any other private agency authorised by states. States will be responsible for procurement and liquidation of the procured commodity. They would create a corpus fund for this purpose and make all logistics arrangements to handle the procurement.

The central government will compensate the operational loss, if any, on value of MSP, up to a maximum 30-40 per cent. The second model proposed under the policy is ‘Price Deficiency Procurement Scheme (PDPS)’ which is similar to the Bhavantar Bhugtan Yojana launched by the Madhya Pradesh government.

Under the PDS scheme, if the sale price is below a model price then the farmers would be compensated to the difference between the MSP and actual price, subject to certain conditions and ceiling.

The MAS and PDPS are primarily government-owned and driven schemes. The central government wants to bring in private sector players to supplement its schemes. Therefore the ministry, in the new policy, has proposed engagement of private sector in MSP-linked procurement through a transparent e-market platform.

States will be allowed to empanel private firms via a transparent bidding for the purchase of farm produce when prices fall below the MSP. The private firms will be given tax incentive and a commission.

According to sources, the monitory implication of the proposed policy will run into thousands of crores if all three schemes are implemented by all states in all MSP notified crops. Also, the existing Price Support Scheme (PSS) and Market Intervention Scheme (MIS) will be discontinued once the new policy is in place, the sources added.

It may be noted farmers are under distress due to fall in prices of most commodities below the MSP in view of the bumper crop. In the Budget 2018, the government has announced that it will ensure delivery of MSP at any cost to farmers.

The central government wants to bring in private sector players to supplement its schemes. Therefore the ministry, in the new policy, has proposed engagement of private sector in MSP-linked procurement through a transparent e-market platform.

The agriculture ministry will soon move a Cabinet note seeking approval for a new policy that aims to rope in both states and private firms in the procurement of other crops than wheat and paddy, for ensuring MSP to farmers, a senior government official said. The objective of the proposed policy is to improve the speed of response and effectiveness of procurement in cases when prices drop below the minimum support price (MSP). The ministry has proposed three models — Market Assurance Scheme (MAS), Price Deficiency Procurement Scheme (PDPS) and Private Procurement and Stockists Scheme — after consultations with an informal group of ministers, headed by Home Minister Rajnath Singh, as well as with state governments. “The agriculture ministry is preparing a Cabinet note on this. The policy aims to give liberty to states to implement either one of the models of procurement,” the senior government official said. In case of MAS, the official said, it is to be implemented by state governments who can take immediate decisions on the basis of local conditions, to enter the market and begin procurement through their own state agencies or any other private agency authorised by states. States will be responsible for procurement and liquidation of the procured commodity. They would create a corpus fund for this purpose and make all logistics arrangements to handle the procurement. The central government will compensate the operational loss, if any, on value of MSP, up to a maximum 30-40 per cent. The second model proposed under the policy is ‘Price Deficiency Procurement Scheme (PDPS)’ which is similar to the Bhavantar Bhugtan Yojana launched by the Madhya Pradesh government. Under the PDS scheme, if the sale price is below a model price then the farmers would be compensated to the difference between the MSP and actual price, subject to certain conditions and ceiling. The MAS and PDPS are primarily government-owned and driven schemes. The central government wants to bring in private sector players to supplement its schemes. Therefore the ministry, in the new policy, has proposed engagement of private sector in MSP-linked procurement through a transparent e-market platform. States will be allowed to empanel private firms via a transparent bidding for the purchase of farm produce when prices fall below the MSP. The private firms will be given tax incentive and a commission. According to sources, the monitory implication of the proposed policy will run into thousands of crores if all three schemes are implemented by all states in all MSP notified crops. Also, the existing Price Support Scheme (PSS) and Market Intervention Scheme (MIS) will be discontinued once the new policy is in place, the sources added. It may be noted farmers are under distress due to fall in prices of most commodities below the MSP in view of the bumper crop. In the Budget 2018, the government has announced that it will ensure delivery of MSP at any cost to farmers.

Agriculture Ministry to soon move Cabinet note to ensure farmers get MSP

MS Swaminathan, who is thought of as one of the chief architects of India&#39;s &quot;green revolution&quot;, said Friday that it was &quot;better later than never&quot; that the government was now offering farmers an MSP of 1.5 times the cost of production of their kharif crops.&nbsp;

&quot;Farmers will be more happy,&quot; Swaminathan added.&nbsp;

The announcement had been made Thursday by Finance Minister Arun Jaitley in his <a href="http://www.wionews.com/business-economy/as-expected-budget-2018-friendly-to-farmers-big-on-health-stocks-fall-31454" target="_blank">Budget speech</a>.&nbsp;

MSP or minimum support price is the price the government buys farmers&#39; crops at.&nbsp;

Also read:&nbsp;<a href="http://www.wionews.com/india-news/not-possible-to-double-farmers-incomes-by-2022-manmohan-singh-31556" target="_blank">Not possible to double farmers&#39; incomes by 2022, says Manmohan Singh</a>

Swaminathan added that the formula had been recommended to the government over 10 years ago.&nbsp;

&quot;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,&quot; Swaminathan said.&nbsp;

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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: M.S. Swaminathan <a href="https://twitter.com/hashtag/Budget2018?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2018</a> <a href="https://t.co/7MmOOuODBq">pic.twitter.com/7MmOOuODBq</a>
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'Farmers will be more happy,' Swaminathan said

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. Also read: Not possible to double farmers' incomes by 2022, says Manmohan Singh 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. 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: M.S. Swaminathan #Budget2018 pic.twitter.com/7MmOOuODBq — ANI (@ANI) February 2, 2018 ×

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

Msp, News on Msp, stories on Msp, articles on Msp, Msp stories at Wion, Msp news, Msp latest news