Centre Hikes Minimum Support Price For Kharif Crops By 4-9%

The Centre on Wednesday hiked the minimum support price for kharif crops by 4-9 per cent for the 2022-23 crop year, with paddy MSP being raised by Rs 100 to Rs 2,040 per quintal, a move aimed at encouraging farmers to bring more area under cultivation and boost their income.

The Centre on Wednesday hiked the minimum support price for kharif crops by 4-9 per cent for the 2022-23 crop year, with paddy MSP being raised by Rs 100 to Rs 2,040 per quintal, a move aimed at encouraging farmers to bring more area under cultivation and boost their income.

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved the increase in MSPs for all 14 kharif (summer) crops for 2022-23 crop year.

Describing it as an important decision, the Prime Minister tweeted that the increase in MSP of kharif crops will empower crores of farmers in the country.

"The MSP of kharif crops has been increase in the range of Rs 92 to Rs 523 per quintal and this will help farmers fetch 50-85 per cent profits on cost of production," Agriculture Minister Narendra Singh Tomar tweeted after the cabinet decision.