Zee Media Bureau
New Delhi: The government on Wednesday hiked the minimum support price (MSP) of pulses by Rs 425 to Rs 5,000-5,225 per quintal for the 2016-17 kharif season.
The government also hiked the MSP of paddy by Rs 60 to Rs 1,470 per quintal for the 2016-17 kharif season.
A decision in this regard was taken in the meeting of the Cabinet Committee of Economic Affairs (CCEA).
The government had fixed the MSP of common variety paddy at Rs 1,410 and grade A variety grain at Rs 1,450 per quintal for 2015-16 kharif (summer) season.
MSP is the rate at which the government buys the grain from farmers. Sowing of kharif crops will begin with the onset of southwest monsoon this month. Paddy is the main crop grown in the season.
The support price of paddy common variety has been raised to Rs 1,470 per quintal, while A grade variety paddy has been increased to Rs 1,510 per quintal for 2016-17, the source said.
In case of pulses, the government has hiked MSP substantially for 2016-17 kharif season to boost domestic production and reduce the country's dependence on imports.
In case of cotton, the CCEA has approved Rs 60 per quintal jump in MSP of medium staple cotton to Rs 3,860 for 2016-17 and for long staple cotton to Rs 4,160 per quintal.