The wheat MSP of 2016-17 season which is around Rs 1,625 per quintal was used for the calculation by the SBI Chief Economist
The cost will include all paid expenses plus imputed value of family labour (FL), but not imputed land rent
The Agriculture Minister said consultations were on with states and the NITI Aayog to find out how a better system can be established
Farm-gate prices are down but demand is showing a small turnaround
Except in the case of paddy and wheat, minimum support price has yet to offer remunerative prices
The Union Cabinet had on June 7 approved the minimum support price of 14 kharif (summer-sown) crops
He adds, no govt can meet the Swaminathan formula for calculating the cost of production
The earnings of rural households over the last few years have been impacted by modest hikes in Minimum Support Prices
NDA government believes steep hikes in MSPs without taking into account market conditions and requirement of the country is counter-productive