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LATEST NEWS UPDATES | Panel set up to review MSP, bonus for pulses

Panel set up to review MSP, bonus for pulses

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published Published on Jul 13, 2016   modified Modified on Jul 13, 2016
-The Economic Times

NEW DELHI: The government has set up a committee to review the minimum support price (MSP) and bonus for pulses to promote cultivation of the staple commodity which has seen a fresh spike in prices.

The decision came after an inter-ministerial review meeting headed by finance minister Arun Jaitley on Monday that was attended by food minister Ram Vilas Paswan and urban development minister M Venkaiah Naidu.

The Chief Economic Adviser Arvind Subramanian-headed panel will give its report in two weeks. The committee will suggest an appropriate policy to promote cultivation of lentils in India, Paswan said, expressing hope that prices will fall in two-three months.

The production of pulses in India is expected to increase to 20 mt this year from 17 mt last year, following a sharp increase in MSP announced earlier, but it will still fall short of about 25 mt needed annually.

The government has also decided to increase the buffer stock for pulses to 20 lakh tonnes from eight lakh tonnes to contain price rise. There could be more incentive in the form of a bonus if the panel decides.

So far the government has procured over 1.19 lakh tonnes of pulses in 2016-17 crop year (July-June) that are being offered to state governments for retail distribution at a subsidised rate of Rs 120 per kg.

Paswan urged states to do more. "Because of lacklustre attitude of state governments, the image of the central government is being tarnished. I am again making an appeal to all states to lift pulses from us. They have infrastructure for solution," Paswan said.

The government is in talks with other countries for long-term supply contracts that will encourage farmers in those countries to produce more.


The Economic Times, 12 July, 2016, http://economictimes.indiatimes.com/news/economy/policy/panel-set-up-to-review-msp-bonus-for-pulses/articleshow/53164623.cms


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