The Union Cabinet on June 8, Wednesday, gave nod to a hike in Minimum Support Price (MSP) for several kharif crops for the crop year 2022-23. The decision was announced by Union minister Anurag Thakur on the day. This will ensure remunerative prices to the growers for their produce and encourage crop diversification, said the Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi.
Speaking to reporters at a press conference to announce the CCEA decisions, Anurag Thakur said, “Knowing the MSP at the time of sowing also boosts the morale of the farmers and they also get good crop prices. In the same direction, this time the Minimum Support Price (MSP) of all 14 kharif crops and 17 crops including their varieties has been increased.”
“The Cabinet Committee on Economic Affairs (CCEA) chaired by the Prime Minister Shri Narendra Modi, has approved the increase in the Minimum Support Prices (MSP) for all mandated Kharif Crops for Marketing Season 2022-23,” said a press release by the cabinet. Government has increased the MSP of Kharif Crops for Marketing Season 2022-23, to ensure remunerative prices to the growers for their produce and to encourage crop diversification, it said.
Here are the New MSP of Kharif Crops after the Latest Hike
Paddy (Common): Old Rates- Rs 1940 per quintal; New Rates- Rs 2040 per quintal
Paddy (Grade A): Old Rates- Rs 1960 per quintal; New Rates- Rs 2060 per quintal
Jowar (Hybrid): Old Rates- Rs 2738 per quintal; New Rates- Rs 2970 per quintal
Jowar (Maldandi): Old Rates- Rs 2758 per quintal; New Rates- Rs 2990 per quintal
Bajra: Old Rates- Rs 2250 per quintal; New Rates- Rs 2350 per quintal
Ragi: Old Rates- Rs 3377 per quintal; New Rates- Rs 3578 per quintal
Maize: Old Rates- Rs 1870 per quintal; New Rates- Rs 1962 per quintal
Tur (Arhar): Old Rates- Rs 6300 per quintal; New Rates- Rs 6600 per quintal
Moong: Old Rates- Rs 7275 per quintal; New Rates- Rs 7755 per quintal
Urad: Old Rates- Rs 6300 per quintal; New Rates- Rs 6600 per quintal
Groundnut: Old Rates- Rs 5550 per quintal; New Rates- Rs 5850 per quintal
Sunflower Seed: Old Rates- Rs 6015 per quintal; New Rates- Rs 6400 per quintal
Soyabean (yellow): Old Rates- Rs 3950 per quintal; New Rates- Rs 4300 per quintal
Sesamum: Old Rates- Rs 7307 per quintal; New Rates- Rs 7830 per quintal
Nigerseed: Old Rates- Rs 6930 per quintal; New Rates- Rs 7287 per quintal
Cotton (Medium Staple): Old Rates- Rs 5726 per quintal; New Rates- Rs 6080 per quintal
Cotton (Long Staple): Old Rates- Rs 6025 per quintal; New Rates- Rs 6380 per quintal
The increase in MSP for Kharif Crops for Marketing Season 2022-23 is in line with the Union Budget 2018-19 announcement of fixing the MSP at a level of at least 50 per cent over the All-India weighted average Cost of Production, the government said in the press release. This has been done for aiming at reasonably fair remuneration for the farmers. “It is notable that, return over MSP for bajra, tur, urad sunflower seed, soybean and groundnut is more than 50 per cent over the All-India weighted average Cost of Production at 85 per cent, 60 per cent, 59 per cent, 56 per cent , 53 per cent and 51 per cent respectively,” it added.
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