India, Dec. 16 -- The Government of India has issued a release:
Total Procurement (In LMT)
Total MSP Value (In Lakh Crore)
1,223
3.47
Every year, Government fixes Minimum Support Prices (MSPs) for 22mandated agricultural crops based on the recommendations of the Commission for AgriculturalCosts & Prices (CACP), after considering the views of the State Governments and CentralMinistries/Departments concerned.
The Union Budget for 2018-19 had announced the pre-determined principle to keepMSPs at levels of at least one and half times of the cost of production. Accordingly, Governmenthad increased MSPs for all mandated Kharif, Rabi and other Commercial crops with a minimumreturn of 50 percent over all India weighted average cost of produc...