New Delhi: Union Cabinet on Wednesday approved Minimum Support Price (MSP) for notified agricultural crops to provide farmers a profit of 50 percent over the cost of production.
The Cabinet Committee on Economic Affairs (CCEA) at its meeting approved the MSP of 14 Kharif (summer-sown) crops.
The MSP of paddy (common grade) has been increased by Rs 200 to Rs 1,750 per quintal, while that of Grade A variety by Rs 160 per quintal to Rs 1,750. The MSP of cotton (medium staple) has been increased to Rs 5,150 from Rs 4,020 and that of cotton (long staple) to Rs 5,450 from 4,320 per quintal.
In pulses, tur MSP has been raised to Rs 5,675 per quintal from Rs 5,450, and that of moong to Rs 6,975 per quintal from Rs 5,575. Urad MSP has been hiked to Rs 5,600 from Rs 5,400 per quintal.
Here is the complete list
MSP for 2017-18 Season (in Rs)
MSP approvedfor 2018-19 Season (in Rs)
|Paddy||Grade A||1590||1770||Rs 180|
|Sunflower Seed||---||4100||5388||Rs 1288|
|Cotton||Medium Staple||4020||5150||Rs 1130|
|Cotton||Long Staple||4320||5450||Rs 1130|
Issuing a statement in this regard, IFFCO MD Dr US Awasthi said, "We welcome the significant announcement made by the Government of India on a steep increase in the minimum support price (MSP) of kharif crops. This historical move will increase the production cost to at least 1.5 times and reiterates the government’s promise to double farmers’ income by 2022. The Government is ensuring and enabling the proper support wherever required."
He further said, "As the backbone of the rural economy, we at IFFCO are committed towards the farmers of our country and provide quality driven Agri inputs to farmers for their better yield. Our sole objective is to strengthen their social security net which will further transform their lives. On the occasion of cooperative’s Golden Jubilee year in 2017, IFFCO has been praised by Prime Minister Narendra Modi for their efforts and initiatives to train the farming community on the right use of fertilizers, advanced techniques and cash-less transactions."