Government to announce 40-60 % MSP hike onMinor ForestProduce (MFP)

Economy News National News

With a view to giving relief to distressed farmers, the government is planning an increase of 40-60% in Minimum Support Price (MSP) in tribal dominated states of Madhya Pradesh, Chhattisgarh, and Rajasthan. The central government would seek permission from the Election commission for the hike in MSP, as this is going to be taken ahead in 2019 general elections.

The government will consider the same parameters for fixing Minimum Support Price for minor forest produce as is adopted by the Commission set up for Agriculture Cost and Prices. This scheme of MSP for Minor Forest Produce was launched by the UPA government in 2013-14. Total 24 items are identified as MFP under this scheme.

The decision for MSP hike has come after the Tribal Minister found the MSP very low for MFP. Apart from increase in MSP, Government is also mulling to add more items under the MFP List.   One of theTribal ministry affairs officers said that the items of MFP would be more than double i.e. from 24 to 50. Another official said that the decision of MSP hike would be finalized in the next few weeks.

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