The government on Wednesday hiked the minimum support price (MSP) for paddy from Rs 100 to Rs 2,040 per quintal for the 2022-23 crop year in order to encourage farmers to bring more area under the crop and boost their income.
The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved an increase in MSP for all mandated Kharif crops for the 2022-23 crop year.
Speaking to reporters, Thakur said, “In today’s cabinet meeting, MSP of 14 Kharif crops was approved.”
The MSP of the common grade variety of paddy has been increased to ₹2,040 per quintal for the 2022-23 crop year from ₹1,940 in the previous year.
The support price of the ‘A’ grade variety of paddy has been hiked to ₹2,060 per quintal from ₹1,960.
Paddy is the main Kharif crop, the sowing of which has already begun. The meteorological department has forecast that the 2022 Southwest monsoon will be normal at 99% of the long-term average.
Normal to good monsoons in the last three years have aided Kharif food grain production, up 2.8% on an average and this may result in Kharif production going up by 2.5%, atop a 1.5% increase in rabi output.
The Information and Broadcasting Minister also highlighted several programs launched during the last eight years by the Narendra Modi-led BJP government to boost farmers’ income and ensure comprehensive growth of the farm sector.
