The Union Cabinet on Wednesday, chaired by Prime Minister Narendra Modi, approved the Minimum Support Price (MSP) on 14 Kharif crops, which is 1.5 times more than the production cost.
Announcing the decisions, Union Information and Broadcasting Minister Ashwini Vaishnaw said, "In the 2018 Budget, the government had taken a very clear policy decision that the MSP has to be at least 1.5 times the cost of the production. This principle was applied in the decision taken this time. Every crop will have at least 50 per cent more MSP compared to the cost this time."
