India

Govt raises MSP marginally for kharif marketing season

Govt raises MSP marginally for kharif marketing season
Moong has seen the lowest increase in percentage terms — 2.07.

Praising farmers for the bumper agriculture production, the Union government on Monday marginally increased minimum support price (MSP) of more than a dozen crops for Kharif Marketing Season (KMS) 2020-21, with paddy MSP seeing an increase of less than 3 per cent over KMS 2019-20.

The Cabinet Committee on Economic Affairs, chaired by PM Narendra Modi, approved MSP of Rs 1,868 per quintal for paddy (common), which is just Rs 53 (or 2.92 per cent) higher than last year’s Rs 1,815.

Briefing the media after the Cabinet meeting, Agriculture Minister Narendra Singh Tomar said, “Based on recommendation of the Commission for Agricultural Costs and Prices (CACP), the Union Cabinet has approved MSP of 14 crops.”

Moong has seen the lowest increase in percentage terms — 2.07. The MSP for moong has been fixed at Rs 7,196 per quintal for KMS 2020-21 against Rs 7,050 per quintal in KMS 2019-20.

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