April 8, 2011
 

India may raise MSP of wheat

Punjab Chief Minister Parkash Singh Badal today (Apr 8) requested personal intercession of Prime Minister Manmohan Singh to immediately raise the Minimum Support Price (MSP) of wheat from INR1120 (US$25) to INR1480 (US$34) per quintal.

In a letter to the prime minister, Badal requested the centre to aid in improving the economic condition of the farmers, and thus suggested a raise in the MSP of wheat. Badal restated that the farming community must not be allowed to feel ignored and left out of the current development of India.

The chief minister said the new MSP would account for all operating costs including family labour and rent. The existing MSP of wheat does not cover these costs. The land rent common in the state varies between INR25,000 (US$567) to INR30,000 (US$680) per acre per year.