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Economy
Hike in minimum support price (MSP)
July 14 , 2018
2249 days
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The Centre gave approval for an increase in minimum support price (MSP) for 14 kharif crops with a price hike ranging from 4 to 53 percent.
To define input cost, the standard A2+FL was considered, which means actual cost plus imputed value of family labour in the production of a crop.
A total of 26 crops are covered under MSP (fair remunerative price in the case of sugarcane).
This includes:
copra, de-husked coconut, raw cotton, raw jute, sugarcane and Virginia flue cured tobacco.
7 cereals
5 pulses
8 oilseeds
paddy
gram
groundnut
jowar
arhar/tur
rapeseed/mustard
wheat
moong
toria
barley
urad
soyabean
bajra
lentil
sunflower seed
maize
safflower seed and niger seed
ragi
sesamum
Government's decision to hike MSP for kharif crops is expected to impact GDP by 0.1-0.2 per cent besides adding to inflationary pressures.
Economists expect the food inflation to increase by 50-90bps by FY19E.
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