Govt's decision to give more MSP to farmers may impact consumers: ITC

Arun Jaitley in his 2018-19 Budget Speech had announced that Centre would guarantee a MSP which would be 50 per cent more than the cost of production

Consumers might have to bear a portion of Centre's proposed move to guarantee a Minimum Support Price (MSP), which would be 50 per cent more than the cost through higher prices in the fast moving consumer goods (FMCG) space, S Sivakumar, group head, Agri-business and IT of one of India's largest agribusiness player, ITC Ltd said.

He said while companies might absorb a part of the additional cost, once revised MSPs are in effect, they would also have to pass on some of the extra burden to the consumers.

"Higher farmers' income as a national priority is good and need of the