MSP For Kharif Crops Increased to Rs 2, 183 Per Quintal

The union cabinet on Wednesday approved a hike in the Minimum Support Price (MSP) of Kharif crop for marketing season 2023-24 to ensure remunerative prices to the farmers for their produce and to encourage crop diversification, Union Minister Piyush Goyal said.  

The rates of the Kharif crop have been revised by the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi. The MSP of paddy has scaled by Rs 143, making it to Rs 2, 183 per quintal this year, which sees the highest hike if compared with previous years’ figures.

The announcement has been made to lessen the burden of farmers while retail inflation is on a declining trend, said the government.

MSP For Kharif Crop 2023-24

The MSP for the common grade variety of paddy has risen by Rs 143, making it to Rs 2,183 per quintal. It was Rs 2,040 previously.

The revised MSP for ‘A’ grade variety of paddy is Rs 2,203 per quintal which is Rs 163 more than the previous rate – Rs 2,060 per quintal.

Among all Kharif crop, moong dal has seen the highest hike of 10.4 per cent at Rs 8, 558 per quintal, while it was Rs 7, 755 per quintal last year.

The main Kharif crop is paddy, which is grown as the southwest monsoon begins. According to India Meteorological Department (IMD), the normal monsoon will begin in June and end in September, despite the El Nino conditions. 

Revised Rates of Kharif Crop Shared by Union Minister Piyush Goyal