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Rabi crop MSP
Why is it in the news ?
- The Central government decided to hike the minimum support price (MSP) for Rabi crops for the marketing season 2020-21.
- The increase is based on the principle that MSP should be at least 1.5 times the all-India weighted average cost of production.
More in the news
- The highest increase has been recommended for lentils (increase of Rs.325 toRs. 4,800 a quintal).
- The lentils are followed by safflower (increase of Rs. 270 to Rs. 5,215 a quintal) and gram (an increase of Rs.255 to Rs.4,875).
- The MSP of rapeseed & mustard has been increased by Rs. 225 to ₹4,425.
- For both wheat and barley, it has been increased by Rs. 85 to 1,925 and Rs. 1,525 per quintal, respectively.
- Procurement:
(1) State governments will undertake procurement of coarse grains with the prior approval of the Government.
(2) States would distribute the entire procured quantity under the National Food Security Act (NFSA).
(3) The subsidy will be provided only for the quantity issued under NFSA.
Source
The Hindu.