Govt hikes MSP on paddy by `50 to `1,360 per quintal

Tags: News
The centre on Wednesday hiked minimum support price (MSP) on paddy by Rs 50 to Rs 1,360 per quintal for kharif season to encourage farmers to cultivate rice. The new MSP for superior A-grade rice will be Rs 1,400, translating into a Rs 55 increase from Rs 1,345 per quintal.

The CCEA meeting chaired by prime minister Narendra Modi also decided to increase support price for all pulses by Rs 100 per quintal. MSP for kharif crops this year will come into effect beginning October 1. Paddy is a major crop during the kharif season for which the sowing begins in June each year.

The CCEA decision “would increase investment and production through assured remunerative prices to farmers,” an official news release said. Law and telecom minister told reporters however that the latest hike in MSP for kharif crops will not have any impact on inflation. “I don’t think rise in MSP is directly linked to inflation. We are taking several measures to control it”.

“In view of possibility of below normal monsoon, the government has gotten into action and taken several steps to control prices. We have accepted the recommendation of CACP in toto. We have given the best possible deal to farmers,” the minister added.

The centre has increased MSP on cotton by Rs 50 per quintal to Rs 3,750 for medium staple and to Rs 4,050 for long staple. In pulses, the new MSP for Tur and Urad dal would be Rs 4,350 a quintal while support price for moong has been set at Rs 4,600 a quintal.

In the oilseeds category, the government announced support price of sunflower seed at Rs 3,750 translating into an increase of Rs 50 per quintal. MSP for sesamum and nigerseed has been set at Rs 4,600 and Rs 3,600 per quintal respectively. The CCEA also approved a hike in jowar MSP by Rs 30 to Rs 1,530 per quintal for the hybrid variety and Rs 1,550 a quintal for the maldandi variety for this year. Ragi’s MSP was raised by Rs 50 to Rs 1,550 per quintal.

The agriculture ministry had recommended retaining the MSP of bajra and maize at Rs 1,250 and Rs 1,310 per quintal respectively.

badarinath@mydigitalfc.com

EDITORIAL OF THE DAY

  • India's engagement with Iran looks iffy without Farzad gas deal

    India’s quest for West Asian oil is not going to come too easy, anytime soon.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

BK Chaturvedi

Time ripe for state funding of elections

Prime minister Narendra Modi had laid strong emphasis on improved ...

Rajgopal Nidamboor

The resonant cadence of our being

The real voyage of discovery,” wrote Marcel Proust, the French ...

Dharmendra Khandal

Biodiversity day has come and gone. Yet again

Every year on May 22, world celebrates international biodiversity day. ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture