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Punjab Chief Minister Parkash Singh Badal on Thursday asked the Centre to raise the minimum support price (MSP) for wheat for the forthcoming season.
Badal said the Swaminathan formula for fixing the MSP should be implemented. According to the formula, farmers should get an MSP which should cover production costs plus 50 per cent of these costs to be paid to the farmer.
Badal said considering market realities and the overall price index in the country, a wheat price of Rs 1,450 could not even cover the expenses incurred by the farmers. The MSP, thus, must be hiked to the level where the mismatch between input costs of agriculture produce and MSP announced for these was removed.
