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LATEST NEWS UPDATES | Wheat price up but 'not enough'

Wheat price up but 'not enough'

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published Published on Oct 4, 2018   modified Modified on Oct 4, 2018
-The Telegraph

The 6.1 per cent hike in the MSP is expected to disburse a cumulative additional income of Rs 62,635 crore.

New Delhi:
The Centre has increased the minimum support price for wheat, the main rabi crop, by Rs 105 to Rs 1,840 per quintal (100kg), a day after police clashed with farmers demanding a higher support price and loan waivers.

The 6.1 per cent hike in the MSP is expected to disburse a cumulative additional income of Rs 62,635 crore.

The government claimed that the increase in the support price for the winter crop is in line with the budget announcement to provide a 50 per cent profit over the cost of production.

However, farm leaders pointed out that this is more of a “jumla” (an idiomatic expression that gained currency after BJP chief Amit Shah used it to play down an impression created by Narendra Modi on the 2014 campaign trail that each citizen would get Rs 15 lakh if all the black money is brought back from abroad.)

Chaudhury Rakesh Tikait, the president of the Bahujan Kisan Dal, told The Telegraph that “we are not happy with this decision and this is far below what was promised in the budget…. This is not really a 50 per cent increase.

“They (the BJP) had promised the Swaminathan formula, which means 150 per cent of the cost as calculated by the government’s agricultural cost price committee,” Tikait said.

The Swaminathan committee had recommended a 50 per cent rise over the actual cost of production, which included not just input costs and imputed labour costs but also the interest cost on capital and the imputed rent paid for land.

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The Telegraph, 4 October, 2018, https://www.telegraphindia.com/india/price-up-but-not-enough/cid/1670914?ref=india_india-page


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