|
| Rabi crops' floor price on agenda |
| Sanjeeb Mukherjee / New Delhi Oct 25, 2011, 00:37 IST |
|
The Union Cabinet is likely to discuss the minimum support price for rabi crops, which includes wheat, mustard and pulses, at a meeting tomorrow.
Officials said the agriculture ministry has proposed raising the minimum support price (MSP) of wheat sowing, which would start after Diwali, by Rs 115 per quintal to Rs 1,285 per quintal to cover the rising farm input cost and encourage farmers to increase acreage.
The Commission for Agricultural Costs and Prices (CACP), the nodal agency that frames price policies for agricultural products, had, however, recommended increasing the MSP to Rs 1,350 per quintal, up almost 15 per cent from Rs 1,170 per quintal at present. CACP's proposal seems to have not found much favour with the food and finance ministries, which fear that such a sharp rise in MSP might escalate the already high food inflation and subsidy.
Last week, agriculture minister Sharad Pawar had said the MSP for rabi crops could be discussed in the cabinet next meeting.
Officials said the panel of ministers could also discuss the much-awaited companies’ bill 2011, which proposes a comprehensive revision to the existing Companies Act 1956 to provide a clear framework for good governance. The proposed law will strengthen the powers of all stakeholders, including minority shareholders to keep promoters away from unethical practices.
To enable poorer sections of the population build their own home, the cabinet could also discuss a proposal to provide one per cent interest subvention on housing loans up to Rs 15 lakh with the cost of the house not exceeding Rs 25 lakh.
The cabinet could also discuss the Majithia wage board for journalist and non-journalist employees.
Yesterday, union labour minister Mallikarjuna Kharge had said in Coonor that the cabinet will discuss the issue tomorrow. A proposal to strengthen the capital base of NABARD could also come up, officials said.
|
|
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
|
|
Content Guide
