Union Cabinet increases minimum support price on Kharif crops

Union Law Minister Ravishankar Prasad on Wednesday

declared the Union Cabinet Committee on Economic Affairs (CCEA) decision to

increase the minimum support price of Kharif crops.

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"Cabinet Committee on Economic Affairs also had a meeting wherein for the

financial year 2014-2015, the minimum support price has been decided for the

Kharif crops. The CCEA has accepted recommendations made by the Agricultural Cost

and Price Commission (CACP). So this is a big relief provided by the government to

the farmers," Prasad said.

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He also announced the Cabinet approval of increasing Minimum Support Price of

kharif crops mainly in, paddy, pulses and cotton. He announced that the new prices will become effective from October 1 of this year.

Another important decision announced by the Union Minister pertained to the

tactical agreement to give permission to an MoU to build an industrial park with

help from China.