The central government on Wednesday, October 16 increased the minimum support price (MSP) of 6 Rabi crops. The highest increase was made in mustard-oilseeds by Rs 300. Wheat was increased by Rs 150 per quintal. In this way, the minimum support price of wheat has become Rs 2,425 per quintal. MSP of barley, gram, lentil, safflower has also been increased. This decision was taken in the cabinet meeting. Rabi crops are sown during the returning monsoon (October-November). These crops are usually harvested in April during the summer season. These crops are not much affected by rain. The main Rabi crops are wheat, gram, peas, mustard and barley. The lowest increase was in barley. What is MSP or Minimum Support Price?
The minimum support price is the guaranteed price that farmers get on their crop. Even if the prices of that crop are low in the market. The logic behind this is that the fluctuations in the prices of crops in the market should not affect the farmers. They should keep getting the minimum price. The government decides the MSP on the recommendation of the Commission for Agricultural Costs and Prices (CACP) before every crop season. If there is a bumper production of a crop, then its prices in the market are low, then MSP works as a fixed assured price for them. In a way, it works like an insurance policy that protects farmers when prices fall. 23 crops are included in MSP: Also read this news Dearness allowance of central employees may increase: It can increase from 50% to 53% Dearness Allowance (DA) given to central employees may increase soon. According to media reports, in the cabinet meeting to be held today i.e. on 16 October, the government can take a decision on the increase in DA. The government can increase DA by 3%. If this happens, their dearness allowance will increase from 50% to 53%. About 52 lakh central government employees and 60 lakh pensioners will benefit from this. Read the full news
