New Delhi: The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on Wednesday approved an increase in the minimum support prices (MSPs) for all kharif crops in the 2019-20 season.
The move will lead to increased investment and production through assured remunerative prices to the farmers, an official release said.
For the kharif crops of 2019-20, government has increased the MSP of paddy by 3.7 percent or Rs 65 to Rs 1,815 per quintal.
MSPs of soyabean has been increased by Rs 311 per quintal, sunflower by Rs 262 per quintal and sesamum by Rs 236 per quintal which is a major step towards increasing the income of farmers.
MSPs of tur dal has been increased by Rs.125 per quintal and uraddal by Rs.100 per quintal. This will help address the issues related to requirement of pulses in view of the need to meet the nutritional security and protein requirements of a large section of population, government said.
The MSP of Jowar has been hiked by Rs 120 per Quintal while in case of Ragi it has been hiked by Rs 253 per quintal. The Move comes in the backdrop of the need to promote cultivation and consumption of nutri-cereals. Besides, India celebrated 2018 as the National Year of Millets and the Food and Agriculture Organisation (FAO) Council has approved India's proposal to observe an International Year of Millets in 2023.
For cotton (medium staple) and cotton (long staple), the MSP has been increased by Rs. 105 per quintal and Rs. 100 per quintal respectively.
The highest percentage return to farmers over their cost of production is for Bajra (85 percent) followed by urad (64 percent) and tur (60 percent).