NEW DELHI: The government on Wednesday sharply hiked the minimum support price (MSP) of pulses by up to Rs 425 per quintal for this year to boost output and check price rise, while making a modest raise of Rs 60 in paddy MSP to Rs 1,470 per quintal.
The government also approved a bonus of Rs 425 for pulses and Rs 100-200 per quintal for oilseeds growers over and above the MSP to encourage domestic production and check prices.
The decision was taken by the Cabinet Committee on Economic Affairs. The MSP is the rate at which the government buys the grain from farmers.
First Published: Jun 02, 2016 08:40 IST