Welcoming the “courageous emphasis on agriculture” in the Union Budget for 2018-19, former Punjab Chief Minister Parkash Singh Badal on Thursday said that linking minimum support price (MSP) to cost of production is a major step towards acceptance of Swaminthan formula.
Badal hailed the Budget as “farmer-friendly and people-oriented” saying that linking MSP with cost of production, the emphasis on agricultural exports, value-addition of farm produce through increased outlay for food processing industry and focus on rural economy and development are its most welcome and unique features.
Congratulating Prime Minister Narendra Modi and Finance Minister Arun Jaitley for courageously introducing a priority-shift in governmental investments into agriculture and rural sectors, especially the commitment to ensure MSPs equal to 1.50 times of the farmers’ costs in investment.
“This is the first concrete step towards meeting the goal of implementing the Swaminthan recommendation of ensuring 100 percent profits on farmers’ costs on production...The Budget carries the stamp of Jaitley’s concern for farmers in general and for Punjab farmers in particular,” he said.