To give remunerative prices to farmers hit by falling prices after a bumper crop, Finance Minister Arun Jaitley said the government will offer a minimum support price (MSP) that’s 50% above the cost of production of remaining rabi (winter) crops as well as kharif (summer) crops.
At present, 23 crops are backed by MSP although only some of them, such as rice and wheat, are efficiently procured.
“I am confident that this historic decision will prove an important step towards doubling the income of our farmers,” the finance minister said
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