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Capital Market - Live News
Jul 04, 2018 | Source: AxisDirect
As per the latest update from official sources, the Union cabinet has approved the proposal of increasing the Minimum Support Price (MSP) for Kharif crops by 1.5 times the cost.
According to report, the MSP for paddy has been increased by around Rs 250 per quintal.
Maize will be getting MSP increased by 19.3%.
Oil seeds like soybeans, sesame and groundnut are to get an MSP increased by 11.4%,17.9% and 9.9% respectively.
In terms of pulses, Moong will get a 25.1% increase in MSP. while Tur and Urad dal crops will be given an MSP hiked by 4.1% and 3.7% respectively.
While rise in MSP is estimated to cost about Rs 33,500 crores. The share of paddy alone in the extra cost is estimated to be Rs 12,300 crores.