Fixing MSP at 1.5 times of prodn cost historic: Radha Mohan

Union Minister Radha Mohan Singh today termed as "historic" the Narendra Modi government's decision to increase the minimum support price (MSP) of Kharif crops to 1.5 times the cost of production.

"Modi government has taken a historic decision in farmers' interest to hike the MSP of Kharif crops to 1.5 times the cost of production from the 2018-19 kharif season," Singh, the Union Agriculture & Farmers Welfare Minister, said.

Now the farmers will be able to get at least 1.5 times of the cost of their produce or may also get more than it, he told reporters here.

Stating that the government in its budget of 2018-19 has promised to provide farmers 1.5 times of cost of their production as MSP, Singh said the budget also emphasised on increasing the farmers' income.

The government is committed to doubling the farmers' income by 2022 in order to improve their lot, he said.

Reading out the revised rates of MSP as decided by the union cabinet for 14 items, he said the production cost of paddy has been at Rs 1,166 per quintal while its MSP (common grade) has been fixed at Rs 1,750 which is 50.09 per cent increase over its cost.

In reply to a query that pulses and oilseeds are being not procured, the agriculture minister said that its true that MSP have been fixed for pulses and oilseeds but they were not procured by the governments.

It was Narendra Modi government which procured 64 lakh tonnes of pulses and oilseeds in past four years, he said and added that the Centre has allowed states to procure 56.9 lakh tonnes.