Tuesday, 9 August, 2022
HomeIndiaModi govt raises MSP on paddy by Rs 72/quintal for 2021-22, says...

Modi govt raises MSP on paddy by Rs 72/quintal for 2021-22, says hike to continue in future

The new MSP on paddy is Rs 1,940/quintal. The rates of bajra and other kharif crops were also hiked after a cabinet meeting headed by PM Modi Wednesday.

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New Delhi: The government on Wednesday raised the minimum support price (MSP) of paddy marginally by Rs 72 per quintal to Rs 1,940 per quintal for the 2021-22 crop year, while the rates of other kharif crops were also hiked.

Paddy is the main kharif crop, the sowing of which has begun with the onset of the Southwest monsoon. The Met Department has projected a normal monsoon for the June-September period.

The decision taken by the Cabinet headed by Prime Minister Narendra Modi will help farmers take a call on which kharif (summer) crop to grow as sowing picks with the spread of the Southwest monsoon.

Briefing reporters after the Cabinet meeting, Agriculture Minister Narendra Singh Tomar again dispelled apprehensions about MSP saying, “MSP (on farm crops) is there, is being hiked and will continue in future as well”.

The Cabinet has approved an increase in the MSP of paddy (common variety) to Rs 1,940 per quintal for the 2021-22 crop year (July-June) from Rs 1,868 per quintal in the year-ago period.

Similarly, the MSP of Bajra has been increased to Rs 2,250 per quintal for the current year from Rs 2,150 per quintal last year, he said.

MSP has been increased regularly and its benefit is reaching farmers, the minister said.


Also read: Can India actually afford MSP for farmers? It’s a question of political will


 

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