CCEA increased the Minimum Support Price of Wheat by 50 Rupees per Quintal
CCEA enhanced the Minimum Support Price (MSP) of wheat by 50 rupees per quintal to 1400 rupees
The Cabinet Committee on Economic Affairs (CCEA) on 17 October 2013 enhanced the Minimum Support Price (MSP) of wheat by 50 rupees per quintal to 1400 rupees for the fiscal, starting April 2014. The CCEA accepted the recommendations of Commission for Agricultural Costs and Prices. The MSP of red gram and mustard was also hiked by hundred rupees per quintal each. MSP is the rate at which government buys the grain from farmers. The government took this step to encourage farmers to cover more area under the crop in the ongoing rabi season.
The crop's sowing begins in October and harvesting begins from April onwards. The government procures wheat from farmers during April-June.