Govt hikes paddy MSP by Rs 53/qtl for 2020-21

Source: PTI | Published on 1st June 2020, 7:02 PM | National News | Don't Miss |

New Delhi: The government on Monday hiked the minimum support price (MSP) of paddy marginally by Rs 53 per quintal to Rs 1,868 per quintal for the 2020-21 crop year, while the rates for oilseeds, pulses and cereals were also raised.

The decision, taken by the Cabinet headed by Prime Minister Narendra Modi, will help farmers take a call on which kharif (summer) crop to grow as sowing picks up with the arrival of southwest monsoon.

The Met Department has projected normal monsoon during the June-September period.

"Based on the recommendation of the Commission for Agricultural Costs and Prices (CACP), the cabinet has approved MSP of 14 crops. Paddy (common) MSP has been increased to Rs 1,868 per quintal for this year," Agriculture Minister Narendra Singh Tomar told media after the meeting.

He said the increase in support price of paddy will ensure 50 per cent return over the cost to the farmers, he said.

The MSP of Grade A variety of Paddy has been increased to Rs 1,888 per quintal for 2020-21 crop year from 1,835 per quintal last year.

In an official statement, the government said the support price of cotton (medium staple) has been increased by Rs 260 per quintal to Rs 5,515 per quintal for 2020-21 from Rs 5,255 per quintal last year.

The support price of cotton (long staple) has been increased to Rs 5,825 per quintal from Rs 5,550 per quintal in the said period, it added.

Read These Next

PM Modi 'hesitant' in taking China's name: Owaisi

All India Majlis-e-Ittehadul Muslimeen (AIMIM) President Asaduddin Owaisi on Friday slammed Prime Minister Narendra Modi for being "hesitant" in taking China's name in the speech during his recent visit to Ladakh.

Zydus gets nod for human trials of COVID-19 vaccine

Zydus on Friday said it has received approval from authorities to start human trials for its COVID-19 vaccine contender - the second Indian pharmaceutical firm to get such nod amid a surge in novel coronavirus infections ...