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LATEST NEWS UPDATES | 'Jumla' tag on 'record' farm support prices -R Suryamurthy, Jayanta Roy Chowdhury and JP Yadav

'Jumla' tag on 'record' farm support prices -R Suryamurthy, Jayanta Roy Chowdhury and JP Yadav

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published Published on Jul 5, 2018   modified Modified on Jul 5, 2018
-The Telegraph

New Delhi: The Narendra Modi government on Wednesday raised the minimum support price for the common variety of paddy by what it described as a "historic" margin, seeking to address rural disquiet that the BJP has identified as one of its weaknesses in the run-up to key elections.

However, a powerful lobby of farmers has termed it a "jumla" (an idiomatic expression that loosely translates as a hollow promise or a gimmick) and announced a plan to encircle Parliament with tractors in October.

The support prices for a variety of other crops, including cotton seeds, pulses and coarse grain like millets, were also raised. The median hike this year works out to around 25 per cent compared with a 3-4 per cent in the last three years.
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Analysts fear this could cost the exchequer an additional Rs 15,000 crore, wreck government finances and stoke inflation.

"No other government has announced such a large MSP hike in the interest of farmers," said Rajnath Singh, the heartland leader who was deployed to make the announcement. Prime Minister Modi described the hikes as "historic".

Singh said the Cabinet Committee on Economic Affairs had cleared a proposal to pay the farmers the price difference between the MSP and market price if the procurement agencies failed to buy the crop.

The minimum price for paddy, the main kharif season crop, has been increased by Rs 200 to Rs 1,750 per quintal. The increase from last year works out to 13 per cent.

However, the hike climbs to 50.09 per cent when matched against the production cost of farmers as worked out by the Commission of Agricultural Costs and Prices (CACP).

But there's catch: the CACP has three definitions for production costs— A2, A2+FL, and C2.

A2 costs basically cover all paid-out expenses, both in cash and in kind, incurred by farmers on seeds, fertilisers, chemicals, hired labour, fuel, and irrigation.

A2+FL covers actual paid-out costs plus an imputed value of unpaid family labour.

C2 costs - which is what the farm organisations want as the base for calculating MSP calculation - is the most comprehensive and accounts for all rentals and interest forgone on owned land and fixed capital assets respectively, on top of everything else in A2+FL.

"This is just another jumla," said Chaudhury Rakesh Tikait, president of the Bharatiya Kisan Dal which has a strong support base among large landholding farmers in Uttar Pradesh.

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The Telegraph, 5 July, 2018, https://www.telegraphindia.com/india/jumla-tag-on-record-farm-support-prices-242594#.Wz2CSjaVDf8.twitter


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