GOVERNMENT ANNOUNCES HIKE IN MSP FOR KHARIF SEASON

(The Quiver): The Union Cabinet on Wednesday approved a hike in Minimum Support Price (MSP) for various Kharif (summer) crops for the year 2022-23, announced Union Minister Anurag Thakur.

The MSP of Kharif crops for the 2022-23 crop year will now increase.The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved an increase in MSP for all mandated Kharif crops for the 2022-23 crop year.Speaking to reporters, Thakur said, “In today’s cabinet meeting, MSP of 14 kharif crops was approved.”

The MSP of common grade variety of paddy has been increased to ₹2,040 per quintal for the 2022-23 crop year from ₹1,940 in the previous year.The support price of ‘A’ grade variety of paddy has been hiked to ₹2,060 per quintal from ₹1,960.

Paddy is the main kharif crop, the sowing of which has already begun. The meteorological department has forecast that the 2022 Southwest monsoon will be normal at 99% of long-term average.Last month, the government stressed that availability of fertilisers during the current Kharif season is more than the estimated demand, adding that its subsidy for this fiscal might increase to around ₹2.5 lakh crore to ensure that farmers get crop nutrients at highly subsidised rates.

The Centre added that it will take strict action against hoarding of crop nutrients and asked states to monitor fertiliser movement. It also told states to provide accurate information to farmers for ensuring there is no panic buying.