TIL Desk/Business/New Delhi/ The government on Wednesday hiked the minimum support price for wheat by Rs 40 to Rs 2,015 per quintal and for mustard seed by Rs 400 to Rs 5,050 per quintal for the current crop year.
A decision in this regard was taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi. MSP (Minimum Support Price) is the rate at which the government buys the grain from farmers.
Currently, the government fixes MSPs for 23 crops grown in both kharif and rabi seasons. Sowing of rabi (winter) crops begins from October immediately after the harvest of kharif (summer) crops. Wheat and mustard are major rabi crops.
