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Date-wise Events |
- Minimum Support Price (MSP)
- 1966-67:
- The MSPs were announced by the Government of
India for the first time in 1966-67 for Wheat in the
wake of the Green Revolution and extended harvest,
to save the farmers from depleting profits. Since
then, the MSP regime has been expanded to many
crops. Minimum Support Price is the price at which
government purchases crops from the farmers,
whatever may be the price for the crops. The MSP is
announced by the Government of India for various
crops currently at the beginning of each season viz.
Rabi and Kharif.
- November 15, 2016:
- The Cabinet Committee on Economic Affairs (CCEA)
has approved 100 rupees per quintal hike in wheat
MSP to 1,625 rupees per quintal for the 2016-17 rabi
crop against 1,525 rupees per quintal last year. MSP
on Gram has been hiked to 4,000 rupees per quintal
including bonus, from 3,500 rupees per quintal while
MSP of Masur has been raised to 3,950 rupees per
quintal from 3,400 rupees. The support price on
Mustard and safflower have been hiked to 3,700
rupees per quintal each. On Barley the support price
has been increased to 1,325 rupees from 1,225 rupees
per quintal. To incentivise cultivation of pulses
and oilseeds, CCEA also announced a bonus on these
crops over and above MSP.
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