India, Dec. 9 -- 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 22 mandated agricultural cropsbased on the recommendations of the Commission for Agricultural Costs & Prices (CACP), after considering the views of the State Governments and Central Ministries/Departments concerned.
The Union Budget for 2018-19 had announced the pre-determined principle to keep MSPs at levels of at least one and half times of the cost of production. Accordingly, Government had increased MSPs for all mandated Kharif, Rabi and other Commercial crops with a minimum return of 50 percent over all India weighted average cost of pr...