Financial Daily from THE HINDU group of publications
Friday, Dec 19, 2003
Financial Daily from THE HINDU group of publications Friday, Dec 19, 2003 |
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Agricultural Policy Agri-Biz & Commodities - Wheat Govt approves freeze on wheat procurement price Our Bureau
New Delhi , Dec. 18 THE Government on Thursday approved a freeze in the procurement price of the 2003-04 wheat crop to be procured during the coming 2004-05 rabi marketing season. The minimum support price (MSP) of the current year's crop has been set at Rs 630 per quintal. Although this is higher than the MSP of Rs 620 per quintal for the previous year, the new price does not include the special drought relief (SDR) of Rs 10 per quintal that was doled out to farmers last year. For the coming marketing season, the procurement price of rapeseed-mustard has been hiked from Rs 1,340 to Rs 1,600 per quintal, and has been similarly raised for safflower (from Rs 1,305 to Rs 1,500 per quintal), gram (Rs 1,225 to Rs 1,400) and masur or lentil (Rs 1,325 to Rs 1,500). The Union Cabinet, which met today, also approved the introduction of a Bill amending the Drugs and Cosmetics Act, 1940 to provide the death penalty to manufacturers of spurious drugs and make their offences cognisable and non-bailable, as against being bailable and non-cognisable now. The Act will be introduced in the current session. The Cabinet also approved the introduction of a Bill to amend the Patents Act, 1970 to provide for grant of product patents in line with India's international obligations contained in the WTO TRIPS agreement.
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