Punjab Chief Minister Parkash Singh Badal today said Rs 75 per quintal increase in the Minimum Support Price (MSP) of wheat is "inadequate and insufficient" for farmers who are facing the vagaries of natural and market forces.
He, however, said the hike in wheat MSP was a welcome step but added that this needs to be enhanced commensurate with steep increase in the cost of agriculture inputs.
In a statement, Badal said, "Although this increase in the MSP is a much needed relief to the farmers, it is inadequate and insufficient to absorb the huge burden imposed on farmers by the vagaries of natural and market forces."
The Chief Minister demanded either the MSP of farm products be linked to overall price index or Swaminathan formula of 50 per cent profit over and above the cost of production be adopted.
