Cabinet nod for big hike in MSP of kharif crops next week: PM

NEW DELHI: Prime Minister Narendra Modi today said the minimum support price for kharif crops, including paddy, will be fixed at least 1.5 times of the production cost in the Cabinet meeting next week.

He also said the support price for sugarcane, called Fair and Remunerative Price (FRP), would be announced in the next two weeks and that the rate would be higher than 2017-18.

This assurance was given by Modi during an interaction with 140 sugarcane growers from major producing states such as Uttar Pradesh, Maharashtra, Karnataka, Uttarakhand and Punjab.

This was Modi’s second meeting with farmers in the last ten days as his Government seeks to address farm sector woes in the election year and has also made slew of announcements, including a Rs 8,500 crore package for sugar sector. (AGENCIES)