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  4. Modi govt hikes MSP on paddy by Rs 100 to Rs 2,040 per quintal

Modi govt hikes MSP on paddy by Rs 100 to Rs 2,040 per quintal

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved the increase in MSP for all mandated Kharif (summer) crops for the 2022-23 crop year.

Shashwat Bhandari Written by: Shashwat Bhandari @ShashBhandari New Delhi Updated on: June 08, 2022 17:38 IST
Representational image.
Image Source : FILE PHOTO

Representational image.

Highlights

  • Centre approves MSPs for Kharif Marketing Season 2022-23, informs Union Minister
  • Cabinet Committee on Economic Affairs (CCEA), chaired by PM Modi approved increase in MSP
  • MSP of common grade variety of paddy has been increased to Rs 2,040 per quintal

The Modi Government has hiked the Minimum Support Price (MSP) on Paddy by Rs 100 to Rs 2,040 per quintal for 2022-23 crop year, Information and  Broadcasting Minister Anurag Thakur informed on Wednesday. More to follow.

The MSP of common grade variety of paddy has been increased to Rs 2,040 per quintal for the 2022-23 crop year from Rs 1,940 in the previous year.

The Centre has also approved MSPs for Kharif Marketing Season 2022-23, informed the Union Minister.

The Union Minister further said that dependence on imports has reduced. Farmers' income has increased. Approved rates are in line with the principle of fixing the MSPs at a level of at least 1.5 times.

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved the increase in MSP for all mandated Kharif (summer) crops for the 2022-23 crop year.

"In today's cabinet meeting, MSP of 14 kharif crops was approved," Thakur told reporters.

The support price of 'A' grade variety of paddy has been hiked to Rs 2,060 per quintal from Rs 1,960. Paddy is the main kharif crop, the sowing of which has already begun. The Met department has projected normal monsoon for the June-September period.

The minister also highlighted several programmes launched during the last eight years by the Modi government to boost farmers' income and ensure comprehensive growth of the farm sector.

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