The government on Wednesday raised the minimum support price (MSP) of paddy rice by Rs 100 to Rs 2,040 per quintal for the 2022-23 harvest year.
The Cabinet Committee on Economic Affairs (CCEA) approved the increase in the MRP for all mandatory Kharif (summer) crops for the 2022-23 harvest year.
“At today’s cabinet meeting, MSP of 14 kharif crops was approved,” Information and Broadcasting Minister Anurag Thakur told reporters.
The MSP of common rice varieties has been increased to Rs 2,040 per quintal for the 2022-23 harvest year from Rs 1,940 in the previous year.
The support price of ‘A’ grade paddy rice has been raised to Rs 2,060 per quintal from Rs 1,960.
Paddy rice is the main kharif crop, the sowing of which has already started. The Met department has forecast a normal monsoon for the period June-September.
The minister also highlighted several programs launched by the Modi government over the past eight years to increase farmers’ incomes and ensure comprehensive growth of the agricultural sector.