Supreme Court today sought responses from the Centre and other authorities on a plea related to the fixation of Minimum Support Price for agricultural produce. A bench headed by Chief Justice Surya Kant and Justice Joymalya Bagchi issued notices to the Union Government, the Directorate General of Foreign Trade, and the Commission for Agricultural Costs and Prices. The plea urged that greater weight be given to the state-specific cost of cultivation while determining MSP. 

 

The Court observed that fixing MSP involves complex economic considerations, including variations in land and capital costs across states. It remarked that a uniform policy may not be feasible and noted that the petition seeks a reworking of economic policy.

 

The petition refers to the MS Swaminathan Commission Report, which recommended MSP at cost plus 50% profit, stating that current MSP levels fall short of this benchmark.