New Delhi: Prime Minister Modi, on Wednesday chaired the Cabinet Committee on Economic Affairs that discussed on the increased Minimum Support Price (MSP) for the kharif crops in the marketing season of 2021-22. The MSP for Paddy increased by Rs 72 per quintal. In 2020-21, the rate per quintal was Rs 1,868, which now will be Rs 1,940 per quintal in 2021-22.
"In case of groundnut and nigerseed, there has been an increase of Rs 275 per quintal and Rs 235 per quintal respectively in comparison to last year. The differential remuneration is aimed at encouraging crop diversification," said Cabinet Committee on Economic Affairs in a statement.
Here is the full list of the revised rates:
MSP for sesaum saw the highest increase at Rs 452 per quintal while tur and urad got a recommendation of MSP of Rs 300.
"The increase in MSP for Kharif Crops for marketing season 2021-22 is in line with the Union Budget 2018-19 announcement of fixing the MSPs at a level of at least 1.5 times of the All-India weighted average Cost of Production (CoP), aiming at reasonably fair remuneration for the farmers. The expected returns to farmers over their cost of production are estimated to be highest in case of Bajra (85%) followed by urad (65%) and tur (62%). For rest of the crops, return to farmers over their cost of production is estimated to be at least 50%," added CCEA.
In case of groundnut there has been an increase of Rs 275 per quintal while nigerseed has seen an increase of Rs 235 per quintal, from last year.