MSP hike will benefit farmers up to 106 percent on the price
The two largest fertilizer cooperatives of India, IFFCO and Kribhco have welcomed the hike in Minimum Support Price (MSP) for Rabi crops such as Wheat and Gram.
The development has come a day after the two crucial farm reform bills were passed in Lok Sabha and Rajya Sabha. They are finally set to become new laws.
Welcoming the move, IFFCO MD Dr U S Awasthi tweeted, “In order to provide a good price for the crop to the farmers, the union cabinet has increased the MSP for Rabi Crops. Farmers benefit up to 106 percent on the price. Honestly, we welcome this decision”.
Later, Kribhco MD Rajan Chowdhry said on twitter,“KRIBHCO welcomes the Govt’s step to increase the MSP for six Rabi crops. It will help farmers and give them assured remunerative prices”.
The government hiked the minimum support price of wheat by Rs 50 per quintal to Rs 1,975 per quintal to encourage farmers to increase cultivation of the crop.
The decision was taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi and was announced by Agriculture Minister Narendra Singh Tomar in Lok Sabha.
