Cabinet nod to implement MSP for notified crops soon, says PM Modi

PM Modi said that within the next two weeks, the Fair and Remunerative Price (FRP) for sugarcane for the season of 2018-19, will also be announced by the Union Cabinet. (File photo)

With the Kharif season set to begin, Prime Minister Narendra Modi on Friday announced that the Union Cabinet in its next meeting will approve the implementation of Minimum Support Price (MSP) of 150 per cent of the input cost for notified crops. Modi made the announcement during an interaction with sugarcane farmers from Uttar Pradesh, Uttarakhand, Punjab, Maharashtra and Karnataka. He also said that within the next two weeks, the Fair and Remunerative Price (FRP) for sugarcane for the season of 2018-19, will also be announced by the Union Cabinet.

Modi said the FRP is higher than the 2017-18 price, and it will also provide incentive to those farmers whose recovery from sugarcane will be higher than 9.5 per cent. During the interaction, Modi is learnt to have apprised the farmers about the various decisions taken to liquidate arrears of sugarcane farmers. He said that in the last ten days, arrears worth more than Rs 4,000 crore have been given to the farmers as a result of new policy measures.