Paswan thanks PM Modi for hiking MSP

Union Minister and Lok Janshakti Party (LJP) president Ram Vilas Paswan today thanked Prime Minister Narendra Modi for fulfilling his promise of hiking the MSP of Kharif crops to 1.5 times the cost of production.

The Modi government has fulfilled one of its two promises of hiking the minimum support price (MSP). The government had committed to fixing the MSP at 50 per cent above the cost of production, Paswan, the Union Minister for Consumer Affairs, Food and Public Distribution, told reporters here.

The earlier hikes used to be in the range of Rs 20 to Rs 30, but this is the first time that the MSP has seen a "quantum jump", he said.

"Our party thanks Prime Minister Narendra Modi for the Central Cabinet's decision to hike the MSP to 1.5 times the production cost for 14 food grain items. This is a historic decision," Paswan added.

The Modi government is now working on its second promise of doubling farmers' income by 2022, he said, adding, "The government has constituted a committee to look into various aspects as to how to execute it."