In a bid to boost production of pulses, the Centre on Tuesday increased its minimum support price (MSP) by up to Rs. 550 per quintal, including the bonus, while increasing the MSP for wheat by Rs. 100 to Rs. 1,625 per quintal for the rabi 2016-17 season.
The decision to increase the MSP for rabi crops was taken at a meeting of the Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi here.
The CCEA approved the MSP increase for pulses, such as masoor (lentil), to Rs. 3,950 per quintal from Rs. 3,400/q last season while the MSP for gram has been fixed at Rs. 4,000 per quintal against Rs. 3,500/q last year.
The MSP for wheat has been raised by Rs.100 to Rs.1,625 a quintal for the rabi season against Rs. 1,525 a quintal for the previous season. Similarly, the MSP for barley has also been increased to Rs. 1,325 per quintal against Rs.1,225/q last season.
The support price for rapeseed-mustard seed, including bonus, has been fixed at Rs. 3,700 per quintal against Rs. 3,350/q last year, while that of sunflower has been increased to Rs. 3,700 per quintal from Rs. 3,300/q last season. “To incentivise cultivation of pulses and oilseeds, the government has announced a bonus on these crops, payable over and above the approved MSP,” said a statement.
