March 29, 2024 00:22 (IST)
Govt hikes support price of wheat by Rs 50 to Rs 1,450 a quintal
New Delhi, Oct 29 (IBNS): The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi on Wednesday raised the minimum support price (MSP) for wheat by a nominal Rs 50 to 1,450 a quintal for Rabi Crops of 2014-15 season to be marketed in 2015-16.
Wheat MSP stood at Rs 1,400 per quintal last year.
"The Cabinet Committee on Economic Affairs (CCEA) has approved the MSP for Rabi Crops of 2014-15 season to be marketed in 2015-16," an official statement said.
The price has been set on the recommendations of the Commission for Agricultural Costs and Prices (CACP).
"This will help in higher production through assured remunerative prices to the farmers," the statement said.
The government also said that the National Agricultural Cooperative Marketing Federation (NAFED), National Cooperative Consumers’ Federation (NCCF), Central Warehousing Corporation (CWC) and Small Farmers Agri Business Consortium (SFAC) will be the nodal agencies for procurement of oilseeds and pulses, and losses if any, incurred by the nodal agencies in such operations would be fully reimbursed.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Mafia-turned-politician Mukhtar Ansari dies of cardiac arrest at 63 Fri, Mar 29 2024
NIA arrests key conspirator in Bengaluru cafe blast case Thu, Mar 28 2024
Actor Govinda returns to politics after 14 years of 'vanvas', joins Eknath Shinde camp Thu, Mar 28 2024
'To browbeat and bully others is vintage Congress culture': PM posts after 600 lawyers write to CJI Thu, Mar 28 2024
Comments on our electoral, legal processes completely unacceptable: India on US' remarks over Kejriwal arrest Thu, Mar 28 2024
5-yr-old girl raped and murdered in Delhi Thu, Mar 28 2024
BJP govt failed to curb crime against women: Congress Thu, Mar 28 2024