The government today hiked the minimum support price (MSP) of wheat by Rs 110 to Rs 1,735 a quintal and of pulses by up to Rs 400 per quintal to encourage farmers to boost area and production of these crops.
The Cabinet Committee on Economic Affairs (CCEA) has approved the MSPs of all rabi (winter-sown) crops for 2017-18.
MSP is the rate at which government buys the grain from farmers.
"Government has increased MSP of wheat by Rs 110 to Rs 1,735/qtl for 2017-18, up from Rs 1,625/qtl last year," Agriculture Minister Radha Mohan Singh tweeted.
In pulses, Singh said that the MSP of masoor has been increased by Rs 300 to Rs 4,250 per quintal, while that of gram by Rs 400 to Rs 4,400 per quintal.
The support price of rapeseed/mustard has been hiked by Rs 300 to Rs 4,000 per quintal.
The MSP of barley has been raised by Rs 85 to Rs 1,410 a quintal and MSP of safflower seed by Rs 400 to Rs 4,100 a quintal.
In percentage terms, wheat MSP has been hiked by 6.8 per cent, gram 10 per cent, masoor 7.6 per cent, mustard 8.1 per cent, barley 6.4 per cent and safflower seed 10.8 per cent.
Wheat is the main rabi crop, sowing of which will begin from this month. The crop will be marketed from next year April onwards.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)