Good News! Govt to Increase MSP of Kharif Crops; Paddy, Corn & Millet to Give Profits

The central government is all set to increase the Minimum Support Price (MSP) for the purchase of Kharif crops. In this regard, the Commission for Agricultural Costs and Prices (CACP) has given its recommendations. The recommendations will be presented to the Union Cabinet for approval. If the recommendations of the CACP are implemented, the farmers will earn more profit on the crop and their income will increase. This gives a sigh of relief for many farmers amid the Coronavirus Crisis.

According to a report published in Economic Times, the CACP has given recommendation to raise the MSP of 17 kharif crops, which includes Paddy crop. It has recommended a raise of 2.9% in the MSP of paddy (grade-A), which makes it to Rs 1888 per quintal. If the recommendation of the CACP is approved, the MSP of paddy will increase by Rs 53 per quintal. Similarly, the commission has recommended to increase the MSP of general paddy from Rs 1815 to Rs 1868 per quintal.

The commission has also recommended an increase of Rs 260 per quintal in the MSP of cotton. Currently, the MSP of cotton (medium staple) is Rs 5255 per quintal and after the recommendation gets approved, it will be Rs 5515 per quintal. Similarly, the MSP of cotton (long staple) is recommended to be increased from Rs 5550 per quintal to Rs 5825 per quintal.

Along with this, MSP of pulses will also increase. The CACP has recommended increasing the MSP of Toor, Urad and Moong Dal, which are the major kharif pulses produced in India. According to the report, the CACP recommended raising the MSP of Toor Dal from Rs 5800 to Rs 6000 per quintal, Urad Dal MSP from Rs 5700 to Rs 6000 per quintal and Moong Dal MSP from Rs 7050 to Rs 7196 per quintal.

As per an Agriculture Department official, the proposal of CACP is under observation of food and other related ministries. Once the ministries approve the proposal, it will be placed before the cabinet for further approval from the higher authorities.