Amidst the ongoing farmers’ agitation in the country, the Modi cabinet has today decided to increase the MSP of 6 Rabi crops including wheat. The government has increased the minimum support price (MSP) of wheat by Rs 40 to Rs 2,015 per quintal.
The Cabinet Committee on Economic Affairs (CCEA) has decided to increase the MSP on barley by Rs 35, on gram by Rs 130, lentils by Rs 400, mustard by Rs 400 and safflower by Rs 114. That is, now barley will be bought at Rs 1635, gram Rs 5230, lentil Rs 5500, mustard Rs 5050 and safflower (sunflower) at the rate of Rs 5471 per quintal.
The MSP of wheat has been increased by Rs 40 to Rs 2,015 per quintal from Rs 1,975 per quintal earlier. The production cost of wheat has been estimated to be Rs 1,008 per quintal.
MSP (Minimum Support Price) is the rate at which the government buys food grains from farmers. At present, the government fixes the MSP for 23 crops grown in both Kharif and Rabi seasons. Sowing of Rabi (winter) crops starts from October immediately after the harvesting of Kharif (summer) crops. Wheat and mustard are the main Rabi crops.
Along with this, the Union Cabinet approved a production based incentive (PLI) scheme of Rs 10,683 crore for the textile sector. Union Information and Broadcasting Minister Anurag Thakur said that this scheme will help in promoting domestic manufacturing and exports.
Thakur said that the Union Cabinet has approved a PLI scheme of Rs 10,683 crore for 10 segments/products of MMF (Artificial Fibre) Apparel, MMF Fabrics and Technical Textiles.
The PLI scheme for the textile sector is part of the announcements made for 13 sectors in the Budget 2021-22. Schemes worth Rs 1.97 lakh crore were announced for 13 sectors in the budget.