Each input cost will be considered while fixing MSP, says PM Modi in Mann ki Baat


Prime Minister Narendra Modi on Sunday said that each and every expense incurred by a farmer will be considered, including his labour, while fixing the minimum support price (MSP) at 1.5 times the input cost.

Addressing the nation via his monthly radio programme, Mann ki Baat, the Prime Minister said a major decision was taken in this year’s budget to ensure adequate returns to farmers when the government decided to give at least one-and-a-half times the input costs as MSP for the scheduled crops.

Modi said while calculating the MSP, the input cost to be considered will include the labour cost, expenditure on machines and animals-also including machine and animals on hire-cost of seeds, fertilizers, irrigation, land revenue, interest on working capital, rent of leased land and even the labour cost of the farmer and his family