IndiaPosted at: Aug 6 2024 2:39PM

Govt fixes MSP for 22 crops: MoS tells LS

New Delhi, Aug 6 (UNI) The Central Government has fixed the Minimum Support Price (MSP) for 22 mandated crops based on the recommendations of the Commission for Agricultural Costs & Prices (CACP) and in consultation with state governments and stakeholder Central Ministries and Departments, Minister of State for Agriculture and Farmers Welfare Ram Nath Thakur said on Tuesday.
In a reply to an unstarred question in Lok Sabha, the MoS said, “While recommending MSP, CACP considers important factors like cost of production, overall demand-supply conditions, domestic and international prices, intercrop price parity, terms of trade between agricultural and non-agricultural sectors, and the likely effect on the rest of the economy, besides ensuring rational utilization of land, water, and other production resources and a minimum of 50 percent as the margin over cost of production.”
“On June 24, 2024, the government notified the MSP of 14 Kharif crops, and the MSP of paddy, soyabean, and cotton have been fixed at a price 50 percent more than the cost of production,” the MoS added.

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Govt fixes MSP for 22 crops: MoS tells LS

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