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Increase in MSP
July 5 , 2019
1858 days
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- The Cabinet Committee on Economic Affairs (CCEA) has approved the increase in the Minimum Support Prices (MSP) for all kharif crops for 2019-20 Season.
- The MSP for this year is 1.5 times all India weighted average Cost of production.
- The highest percentage return to farmers over their cost of production is for Bajra (85%) followed by urad (64%) and tur dhal (60%).
- The MSP mechanism is implemented across the country as nearly 86% farmers are in small and marginal category and to ensure equity.
- It also helps in stabilising prices in the market and thus services the consumers as well.
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