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Wheat support price Rs. 750 a quintal

Special Correspondent

NEW DELHI: The Centre on Monday set the minimum support price (MSP) of rabi wheat to be procured for the Public Distribution System at Rs. 750 a quintal for the 2007-08 marketing season. This is Rs. 50 more than last year's procurement price and the MSP recommended by the Commission on Agricultural Costs and Prices (CACP) for this year.

The announcement was made by Finance Minister P. Chidambaram after a meeting of the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Manmohan Singh.

According to Agriculture Minister Sharad Pawar, the new MSP will take the food subsidy bill to over Rs. 29,000 crore from the budgeted level of Rs. 24,000 crore.

Mustard, jowar prices

The CCEA fixed the MSP of mustard at Rs. 1,715 a quintal as against Rs. 1,600 suggested by the CACP. The MSP for jowar is Rs. 565; for gram Rs. 1,455 and for masur dhal, Rs. 1,545.

The Agriculture Ministry had suggested an MSP of Rs. 750 plus bonus to achieve higher wheat procurement for the PDS.

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