Government sets panel for fixing prices of agricultural commodities

The Indian government has constituted a committee under the Chairmanship of Director, National Centre for Agricultural Economics & Policy Research in the month of April, 2013, to examine the methodological issues in fixing minimum support prices (MSP).

"The committee will examine the existing mandate of the Commission for Agricultural Costs and Prices and suggest whether - by way of a measure of response to the rapidly changing external environment arising in the wake of liberalization, privatization and globalization - there is need to reposition the Commission in terms of its mandate and remit," Tariq Anwar, Minister of State for Agriculture and Food Processing Industries said in written reply to a question in the Lok Sabha on Tuesday.

The terms of reference of the committee will also include examining the existing cost concepts for the purpose of fixing minimum support prices and suggest various factors including cost of transportation, marketing, processing, storage etc. to determine MSP.

The panel will also investigate the existing structure of tariff, taxes, credit, market etc. and to suggest various measures to make it most competitive and remunerative to the farmers in the wake of trade liberalization and globalization and also to encourage diversified agricultural growth, the Minister added.

Dion Global Solutions Ltd.

Story first published: Wednesday, August 7, 2013, 9:20 [IST]
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