CCEA may raise MSP of paddy, other kharif crops today

June 17, 2015 09:02

The Cabinet Committee on Economic Affairs is likely to approve a proposal today to raise the minimum support price of paddy by Rs 50 to Rs 1,410 per quintal for this year.

"The proposal on MSP of kharif (summer) crops is listed on the agenda for discussion for today's meeting," Agriculture Secretary Siraj Hussain said.

The Agriculture Ministry has moved a CCEA note on MSP of various crops for the 2015-16 kharif season taking into account the recommendations of the Commission for Agricultural Costs and Prices (CACP), a government advisory body.

According to sources, CACP has recommended a modest increase of Rs 50 per quintal to Rs 1,410 in the MSP for paddy farmers for the 2015-16 kharif season.

It has also suggested a hike of Rs 100 per quintal in the support price of ragi to Rs 1,650 and Rs 30 per quintal for groundnut MSP to Rs 4,030.

CACP has also recommended a higher MSP for pulses to boost domestic production and reduce country's dependence on imports.

Sources said it is to be seen whether CCEA will approve the CACP's suggestions or take the political route to fulfill the BJP's 2014 poll promise of fixing MSP at 50 per cent profit margin over the cost of production.

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