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The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, on Wednesday hiked the minimum support price (MSP) for Rabi crops, including wheat, for the current season ending June.
For marketing in the 2015-16 season, the MSP for wheat and barley has been hiked by ₹50 to ₹1,450 and ₹1,150 a quintal, respectively. The maximum hike of ₹125 is for masur dal (lentil) at ₹3,075.
“The prices are based on the recommendations of the Commission for Agricultural Costs and Prices… and will help in higher production through assured remunerative prices to the farmers,” an official release said.
The National Agricultural Cooperative Marketing Federation, National Cooperative Consumers’ Federation, Central Warehousing Corporation and Small Farmers Agri Business Consortium will be the nodal agencies for procurement of oilseeds and pulses, and losses if any, incurred by the nodal agencies in such operations would be fully reimbursed, the release said.
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