Indian govt hikes wheat MSP by Rs 50, ups prices of other Rabi crops

New Delhi/October 29 (NG News)
Indian government on Wednesday announced Minimum Support Prices (MSP) of Rabi Crops for 2014-15 marketing season with a hike of Rs 50 in the MSP of wheat.

The decision to hike MSPs of Rabi crops was taken in the Cabinet Committee on Economic Affairs that was chaired by the Prime Minister Narendra Modi here today.

Indian government spokesperson said that the MSP of Wheat has been hiked by Rs 50 to Rs 1450, Barley by Rs 50 to Rs 1150, Gram by Rs 75 to Rs 3175, Masur (Lentil) by Rs 125 to Rs 3075, Rapeseed/Mustard by Rs 50 to Rs 3100 and Safflower by Rs 50 to Rs 3050.

“The prices are on the recommendations of the Commission for Agricultural Costs and Prices (CACP) to help in higher production through assured remunerative prices to the farmers,” added the spokesperson.