What is 1.5 times formula for crops MSP? How is it calculated?

The 1.5 times formula is used to determine the minimum support price (MSP) for crops. This was introduced during the Union Budget 2018-19. According to this formula, the MSP is fixed at 1.5 times the production cost for crops as a ‘pre-determined principle’. Under this formula, the Commission for Agricultural Costs & Prices (the commission ..

Month: Current Affairs - December, 2020

Category: Economy & Banking Current Affairs

Topics: Commission for Agricultural Costs and Prices • electricity act • Farmer • Minimum Support Price

Agriculture Infrastructure Fund

The Prime Minister has launched the Agriculture Infrastructure Fund (Agri Infra Fund) in order to improve the farm gate prices and overall income of the farmers. The fund of Rs 1 trillion will be utilized for giving a fillip to the post-harvest management and also marketing of agricultural produce of the farmers. What are the ..

Month: Current Affairs - August, 2020

Category: Government Schemes Current Affairs • India Nation & States Current Affairs

Topics: Agri Infra Fund • Agriculture Infrastructure Fund • Farmer • Prime minister

Chhattisgarh launches Godhan Nyay Yojana

The Chhattisgarh Chief Minister Bhupesh Baghel recently launched “Godhan Nyay Yojana”. The scheme is to make animal husbandry commercially profitable. Highlights The Godhan Nyay Yojana is the first of its kind that will procure cow dung from cattle owners. The scheme will also prevent open grazing of cattle and will solve the problem of stray ..

Month: Current Affairs - June, 2020

Category: Government Schemes Current Affairs • States Current Affairs

Topics: Animal husbandry • cowdung • Doubling Farmers Income • Farmer • Godhan Nyay Yojana • Government Schemes India • Vermicompost

PM-KISAN Scheme Extended to all Farmers

The government approved a proposal to extend the benefit of Rs 6,000 per year under the PM-KISAN scheme to all farmers. PM-KISAN The PM-KISAN scheme was introduced in the interim budget of 2019. Under the scheme, the government provided Rs 6,000 per year (in three equal instalments) to an estimated 12.5 crore small and marginal ..

Category: Government Schemes Current Affairs

Topics: Farmer • PM-Kisan • small and Marginal Farmers