Centre Hikes Minimum Support Price For Paddy

17 June, New Delhi

The Government Wednesday approved hike of Rs 50 per quintal to 1,410 in the minimum support price (MSP) of paddy for the current season. The decision was taken at the meeting of Cabinet Committee on Economic Affairs which met in New Delhi.

An increased MSP will encourage farmer for greater sowing of paddy. According to sources, Commission for Agricultural Costs and Prices had recommended a modest increase of Rs 50 per quintal in the MSP for paddy.

MSP is the rate at which government buys the 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 South-West monsoon from June.