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9th August 2016 Current Affairs Questions and Answers

9th August 2016 Current Affairs MCQs, Quiz, Questions : Current Affairs for August 2016 ,  Daily Multiple Choice Questions (MCQs) for In...

MSP for Rabi Crops of 2015-16

Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval for the Minimum Support Prices (MSPs) for Rabi Crops of 2015-16 Season to be Marketed in 2016-17. The decision is based on recommendations of Commission for Agricultural Costs and Prices (CACP) for the Price Policy for Rabi Crops for the Marketing Season 2016-17.  CACP, which is an expert body,  takes into account the cost of production, overall demand-supply, domestic and international prices, inter-crop price parity, terms of trade between agricultural and non-agricultural sectors, the likely effect of the Price Policy on the rest of economy, besides ensuring rational utilization of production resources like land and water, while recommending MSPs. The CACP being the expert body, its recommendations are generally accepted as such.  However, in view of the gap in the demand and  domestic supply  of pulses, the Cabinet has decided to give a bonus of Rs.75/- per quintal for rabi pulses over and above the recommendations of the CACP.  This is expected to give a strong price signal to farmers to increase acreage and invest for increase in productivity of pulses.  The Minimum Support Prices (MSPs) for all Rabi Crops of 2015-16 season to be marketed in 2016-17 have been increased and are given in table below:  
                                                                                          
Commodity
MSP for 2014-15 season
MSP for 2015-16 season

Increase in MSP over 2014-15
Bonus  *

(Rs per  quintal)
(Rs per  quintal)
Absolute
%
(Rs per  quintal)
Wheat
1450
1525
75
5.2
-
Barley
1150
1225
75
6.5
-
Gram
3175
3425
250
7.9
75
Masur (Lentil)
3075
3325
250
8.1
75
Rapeseed/ Mustard
3100
   3350
250
8.0
-
Safflower
3050
3300
250
8.2
-