New Delhi: In a move to boost farmers’ income, the Central government on Wednesday hiked minimum support price (MSP) of paddy by Rs 60 to Rs 1,470 per quintal for the 2016-17 kharif season. A decision in this regard was taken in the meeting of Cabinet Committee of Economic Affairs (CCEA). The CCEA also approved a substantial increase in the MSP of pulses for the 2016-17 kharif season. The government had fixed the MSP of common variety paddy at Rs 1,410 and Grade A variety grain at Rs 1,450 per quintal for 2015-16 kharif season. MSP is the rate at which the government buys the grain from farmers.
Sowing of kharif crops will begin with the onset of southwest monsoon this month. Paddy is the main crop grown in the season. The increase in MSP comes as a big relief for farmers in general and those in Punjab, where majority of them is financially stressed. “CCEA has approved Rs 60 per quintal increase in the MSP of paddy for the 2016-17 kharif season,” a source said. The support price of paddy common variety has been raised to Rs 1,470 per quintal, while A grade variety paddy has been increased to Rs 1,510 per quintal for 2016-17, the source said. The government has increased paddy MSP marginally as the country has sufficient stocks and the price increase covers the cost of production. CCEA has approved MSP of other crops as per the recommendation of government’s advisory body.
Pulses’ MSP up by `425 per qtl to boost output
New Delhi: The Central government on Wednesday sharply hiked the minimum support price (MSP) of pulses by up to Rs 425 per quintal for this year to boost output and check price rise, while making a modest raise of Rs 60 in paddy MSP to Rs 1,470 per quintal. The government also approved a bonus of Rs 425 for pulses and Rs 100-200 per quintal for oilseeds growers over and above the MSP to encourage domestic production and check prices. The decision was taken by the Cabinet Committee on Economic Affairs (CCEA). The MSP is the rate at which the government buys the grain from farmers.
Paddy is the main crop grown in the kharif (summer) season. Sowing of kharif crops would begin with the onset of the South-West monsoon this month. After including the bonus component, tur MSP has been raised to Rs 5,050 per quintal for this year from Rs 4,625 per quintal last year. Last year too, the government had given a bonus of Rs 200 per quintal to growers. Moong support price has been increased to Rs 5,225 per quintal for the 2016-17 kharif season from Rs 4,850 per quintal in the year-ago period, while that of urad has been raised to Rs 5,000 per quintal from Rs 4,625 in the said period. Among oilseeds, groundnut support price has been increased by 190 per quintal.PTI
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