The government purchase price of paddy including 14 Kharif crops increased by Rs 117

The Central Government has increased the Minimum Support Price (MSP) of 14 Kharif crops. The Union Cabinet took this decision. Union Information and Broadcasting Minister Ashwini Vaishnav announced that the minimum support price of paddy has been fixed at Rs 2,300, which is Rs 117 more than last year’s minimum support price.

In addition to paddy procurement, the minimum support price for cotton procurement has also been increased. The new MSP of cotton has been set at Rs 7,121. Another variety of cotton now has an MSP of Rs 7,521, which is Rs 501 more than before. Vaishnav also mentioned that 2 lakh new warehouses will be built in the country.

The government’s increase in the minimum support price will put a burden of Rs 2 lakh crore on the government, which is Rs 35 thousand crore more than the previous crop season. The Union Minister emphasized that the MSP should be at least 1.5 times the cost of the crop.

The prices of Tuar dal (Pigeon pea) are constantly increasing in the market. The government has increased the minimum support price for the procurement of Tuar dal, with an increase of Rs 400 in its MSP. The Union Cabinet has also approved a hike in the minimum support price (MSP) of maize and pulses. The MSP of Tuar dal has been increased by Rs. 550 per quintal and the MSP of Urad dal has been increased by Rs. 450 per quintal.

Following this, the MSP of Tuar dal has risen to Rs 7,550 per quintal and the MSP of Urad dal has increased to Rs 7,400 per quintal. Additionally, the MSP of maize has been increased by Rs 135 per quintal and the MSP of moong has been increased by Rs 124 per quintal.

It is worth noting that the minimum support price is the guaranteed price that farmers get for their crops, even if the market prices are low. The rationale behind this is to ensure that market fluctuations do not adversely affect farmers, allowing them to receive a minimum price for their produce.

The crops covered under MSP include:

• Seven types of cereals: paddy, wheat, maize, bajra, jowar, ragi, and barley.
• Five types of pulses: gram, tur/tuar, urad, moong, and lentil.
• Seven types of oilseeds: rapeseed-mustard, groundnut, soybean, sunflower, sesame, safflower, and nigerseed.
• Four cash or commercial crops: cotton, sugarcane, copra, and raw jute.

Source : https://khalihannews.com/ ( Khalihan news )