Centre clears new minimum support price for 14 Kharif crops
The Narendra Modi government on Wednesday approved the minimum support price on 14 Kharif crops, Union minister Ashwini Vaishnaw announced. The Narendra Modi government on Wednesday approved the minimum support price on 14 Kharif crops Vaishnaw said that after today's decision, the farmers will get around ₹2 lakh crore as MSP. The minister said the Centre had a clear policy decision taken in the 2018 Union Budget that MSP should be at least 1.5 times the cost of production, and this principle was followed in the latest MSP hike. The Food Corporation of India currently holds a record stockpile of around 53.4 million tonnes of rice, which is four times the required buffer for July 1 and sufficient to meet demand under welfare schemes for one year without any fresh procurement.
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