New Delhi, June 9 -- The Centre is exploring a plan to review the formula it uses to calculate the minimum support price (MSP) for key pulses such as tur (arhar), urad (black gram), chana (gram), and masur (lentil), four people familiar with the matter told Mint on condition of anonymity.

This comes amid rising concerns over stagnant production, growing imports, and skewed price incentives that fail to reflect current demand trends.

As per the proposed plan, which is in discussion, the government is exploring whether the current cost-based pricing mechanism adequately reflects the ground realities faced by farmers. The MSP has to be aligned with demand, consumption, and production patterns to incentivize farmers and encourage crop diver...