CCEA hikes MSP for major Rabi crops including wheat, gram and pulses

The CCEA has approved the increase in the MSP for rabi crops of 2015-16 season to be marketed in 2016-17 announced by Power Minister Piyush Goyal.

Apart from raising the minimum support price (MSP) of pulses, the Cabinet Committee on Economic Affairs (CCEA) approved a bonus of Rs 75 per quintal for gram and masoor dals over and above the support price.

MSP for the 2015-16 rabi season

• Wheat  has been increased 1525 MSP per quintal
• Gram has been increased 3500 MSP per quintal
• Masur has been increased 3400 MSP per quintal
• Mustard  has been increased 3350 MSP per quintal
• Safflower  has been increased 3300 MSP per quintal
• Barley  has been increased 1225 MSP per quintal

Minimum Support Price (MSP) :

• MSP is a form of agricultural market intervention undertaken by the Central Government in order to insure agricultural producers are protected against any sharp fall in farm prices. The MSP prices are announced by the Central Government at the beginning of the sowing season for certain crops.
• The prices are decided by CCEA on the basis of the recommendations of the Commission for Agricultural Costs and Prices (CACP).

Cabinet Committee on Economic Affairs (CCEA) :

The major function of the Cabinet Committee on Economic Affairs (CCEA) is to review economic trends on a continuous basis, as also the problems and prospects, with a view to evolving a consistent and integrated economic policy framework for the country.

• It also directs and coordinates all policies and activities in the economic field including foreign investment that require policy decisions at the highest level.

CCEA Members :

Chairman : Prime Minister Narendra Modi

• Some of the members of the Committee are Minister of Defence ,Minister of Agriculture, Food & Civil Supplies, Consumer Affairs & Public Distribution. Minister of Railways ,Minister of Chemicals and Fertilizers, Minister of Finance , Minister of Road Transport & Highways Shipping ,Minister of Commerce & Industry, Minister of Power, Minister of Rural development , Minister of Communications & IT.