To fix MSP at 1.5 times input cost for kharif crops: Modi

Source: The Hitavada      Date: 30 Jun 2018 09:54:34


 

NEW DELHI,

(PTI)

PRIME Minister Narendra Modi on Friday said that the minimum support price for kharif crops, including paddy, will be fixed at least 1.5 times of the production cost in the Cabinet meeting next week. He also said that the support price for sugarcane, called Fair and Remunerative Price (FRP), would be announced in the next two weeks and that the rate would be higher than 2017-18.

This assurance was given by Modi during an interaction with 140 sugarcane growers from major producing States such as Uttar Pradesh, Maharashtra, Karnataka, Uttarakhand and Punjab. This was Modi’s second meeting with farmers in the last ten days as his Government seeks to address farm sector woes in the election year and has also made slew of announcements, including a Rs 8,500 crore package for sugar sector.

“The Prime Minister announced that the Union Cabinet would approve the implementation of Minimum Support Price (MSP) of 150 per cent of the input cost, in its forthcoming meeting, for the notified crops of Kharif season 2018-19,” a PMO statement said. This would ensure a significant boost to the income of farmers, the statement said, adding that the MSP hike would be announced next week.

The Prime Minister also informed farmers that within the next two weeks, the FRP for sugarcane for the 2018-19 sugar season (October-September) will be announced. Modi said that this will also be higher than the 2017-18 price. It will also provide incentive for those farmers whose recovery from sugarcane will be higher than 9.5 per cent.

FRP for the current 2017-18 season is Rs 255 per quintal and the Government’s farm advisory body CACP has proposed Rs 20 per quintal hike for the next season.In the meeting, Modi apprised cane growers about the various decisions taken to clear sugarcane arrears. “In the last seven to ten days itself, more than Rs 4,000 crore of arrears have been given to the farmers as a result of new policy measures enforced,” the Prime Minister said.