Minimum Support Price Current Affairs, GK & News

TRIFOOD Parks in MP

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 ..

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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 ..

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Kerala: First State to fix MSP for vegetables

Kerala became the first Indian state to fix Minimum Support Price for sixteen agriculture items. It consists of vegetables, fruits and tubers. The scheme is to support farmers and increase agriculture sector. What is the plan? Sixteen different varieties of vegetables will be covered in the first phase. There is also a condition to revise ..

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GoI increases Minimum Support Price of Rabi Crops

On September 21, 2020, the Government of India increased the Minimum Support Price of rabi crops. The MSP of wheat has been increased by Rs 50 per quintal. The other crops are Chana, Mustard, Safflower and Masoor. Highlights The key decision to increase MSP was taken at the meeting of Cabinet Committee on Economic Affairs. ..

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‘Sugarcane and Sugar Industry’: Report of Ramesh Chand-headed NITI Aayog panel suggests linking sugarcane prices to sugar rates

The report of the NITI Aayog panel, headed by Ramesh Chand, has recommended linking of sugarcane prices to sugar rates to ensure the financial stability of the industry. Considering the production cost of sugar mills, the panel also suggested a one-time hike in minimum sugar price to Rs. 33 per kg. Key recommendations The report ..

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