Current Affairs - Economy - Discussion

Cabinet Committee on Economic Affairs, CCEA, has increased the Minimum Support Price (MSP) for all Rabi crops for the current financial year which will be marketed in 2019-20 season. The MSP of wheat has been raised by 105 rupees per quintal, Masur by 225 per quintal, and Gram by 220 per quintal. According to Union Minister Ravishankar Prasad, the decision is a step towards doubling the farmers' income. The decision will give additional return to the farmers of 62,635 crore rupees by way of increasing the MSP of notified crops to at least 50 per cent return over cost of production.