Government hikes MSP for wheat by Rs 85/quintal; pulses up to Rs 325/quintal

NEW DELHI: The government on Wednesday hiked the minimum support price for wheat by Rs 85 to Rs 1,925 a quintal and for pulses by up to Rs 325 per quintal.
A decision in this regard was taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA), headed by Prime Minister Narendra Modi.
The MSP is the rate at which the government buys grains from farmers.
"In a move to increase farmers' income, the Cabinet has increased the MSP of rabi (winter-sown) crops for the current year," information and broadcasting minister Prakash Javadekar told reporters after the meeting.
The CCEA has approved Rs 85 per quintal hike in wheat MSP to Rs 1,925 per quintal for the 2019-20 rabi crop, up from Rs 1,840 per quintal last year.
Barley MSP has also been increased by Rs 85 to Rs 1,525 per quintal from Rs 1,440 per quintal last year.
To encourage cultivation of pulses, the support price of masoor has been increased by Rs 325 to Rs 4,800 per quintal from Rs 4,475 per quintal last year.
Similarly, the MSP for gram has been hiked by Rs 255 to Rs 4,875 per quintal for this year from Rs 4,620 per quintal lasRead More – Source