To pacify protesting farmers, govt to raise wheat support prices by 6%

This year, Modi's cabinet is expected to raise the MSP on wheat by Rs 105 ($1.44) to Rs 1,840 per 100 kg, the sources said

The government is set to raise the state-mandated prices for winter-sown crops such as wheat later on Wednesday, two government sources said, as Prime Minister Narendra Modi tries to tackle rising discontent among farmers amid a price slump.

The government announces minimum support prices (MSPs) for most crops yearly to set a benchmark, although state agencies usually buy limited quantities of staples such as rice and wheat at those prices due to a lack of storage and funds. Market prices for many crops typically run well below MSPs.

This year, Modi's cabinet is expected to raise the MSP on wheat by Rs