Minimum Support Price Current Affairs, GK & News
The Punjab State Government recently told the Union Government that it will pay the Minimum Support Price directly into the accounts of farmers starting this procurement season. However, the Arhtiyas in the state have been opposing to the direct payment. Arhtiyas are Commission Agents in the state. They used to pay the farmers earlier in ..
The government has decided to include 14 new minor forest produce items under the mechanism for marketing of minor forest produce by the minimum support price scheme. Highlights This new mechanism will help to provide remunerative and fair prices to tribal gatherers of forest produces. The items which have been included in the scheme include- ..
The Cabinet Committee on Economic Affairs (CCEA) chaired by the Prime Minister Narendra Modi has approved the Minimum Support Prices (MSPs) for milling copra and ball copra. Key Facts The government has increased the MSP of copra by ₹375 from 2020. Thus, the Copra would cost ₹10,335 per quintal and contributes in boosting the farmers’ income. ..
The TRIFED (Tribal Cooperative Marketing Development Federation of India) operating under Ministry of Tribal Affairs signed a memorandum of understanding with Akhil Bhartiya vanvasi Kalyan Ashram to setup TRIFOOD parks in Madhya Pradesh. What are the key highlights of the Memorandum of understanding? According to the MoU, TRIFED and Akhil Bhartiya vanvasi Kalyan Ashram will ..
Category: Government Schemes Current Affairs
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 ..
Category: Economy & Banking Current Affairs