Govt hikes paddy minimum support price by Rs 200 per quintal

MSP is the rate at which the government buys grain from farmers. Paddy is the main crop grown in the kharif (summer) season. Sowing of kharif crops has already started with the onset of the monsoon in June.

A bunch of paddy saplings sits in water as Indian farm workers plant paddy in a field on the outskirts of Bhopal on July 3, 2018. / AFP PHOTO / -

New Delhi: Farmers received a huge boost this morning as the Cabinet Committee on Economic Affairs today approved proposal to raise MSP for Kharif crops (sown in summer). The paddy farmers will get a Rs 200 hike which means the MSP of common variety of paddy will increase from Rs 1,550 per quintal to Rs 1,750 per quintal. MSP is the rate at which the government buys grain from farmers. Paddy is the main crop grown in the kharif (summer) season. Sowing of kharif crops has already started with the onset of the monsoon in June.

Profusely grateful to PM @narendramodi ji for fulfilling promise to farmers by taking historic decision to increase msp for all Kharif crops by 1.5 times their production cost. The move will address farmer distress and boost farm economy.

— Harsimrat Kaur Badal (@HarsimratBadal_) July 4, 2018

The NDA govt has not only brought crops under msp but in path breaking decision also decided to pay difference to farmers if their produce is not procured by govt agencies. Farmers will get Rs 6,000 to Rs 8,000 more per acre due to enhanced msp.

— Harsimrat Kaur Badal (@HarsimratBadal_) July 4, 2018

Home Minister Rajnath Singh said the government has taken a historical decision in favour of farmers. "This is a historical decision. The last time the MSP received such a hike was during the Vajpayee government. Never has any government given such kind of a hike. Is Desh ka sabse bada producer, consumer , customer kisan hai lekin kisano ko kabhi uski keemat nahi mili. Modi ji ne isko samjha hai or kisano ko uski lagat ka 1.5 guna diya jayega," he said in a press conference. List of items on which MSP has been hiked.

• The MSP on fine paddy for 2018-19 has been hiked to 1,770 from 1,590.
• While there has been an increase of 12.9% in the MSP on common paddy. The MSP jumped from 1,550 to 1,750.
• MSP on Maize rose to 1,700 from 1,425.
• There has been a slight rise of 4.1% in MSP on Tur, which is now 5,675 as compared to 5,450 earlier. Similarly, MSP on Urad increased from 5,400 to 5,600.
• There has been a significant hike in the MSP on Jowar. The crop's MSP rose from 1,700-1725 to 2430.
• With a hike of 36.8%, MSP on Bajra went up from 1,425 to 1,950.
• While the government hiked the MSP on Moong from 5,575 to 6,975.
• The MSP on Soyabean, on the other hand, rose from 3,050 to 3,399, registering a hike of 11.4%.
• The MSP on sesame for 2018-19 has been hiked to 6,249 from 5,300.
• MSP on sunflower seed has been raised from 4,100 to 5388.
• There has been an increase in the MSP on Groundnut as well. The MSP hiked from 4,450 to 4,890.
• MSP on Cotton Medium Staple jumped from 4,020 to 5,150.
• While MSP on Cotton Long Staple rose from 4,320 to 5,450.
• The MSP on Ragi rose by 52.5%, from 1,900 to 2,897.