MSP For Karif Crops

If the very low extent of procurement under the MSP is any indication, the very scheme is inefficient, given the low intake and massive price differences between the support and market prices

Prime Minister Narendra Modi on Wednesday said the Union Cabinet decision to increase the minimum support price for kharif crops will empower crores of farmers. The government has taken an important decision in the interest of farmers, he said in a tweet. The Centre on Wednesday hiked the minimum support price for kharif crops by 4-9 per cent for the 2022-23 crop year, with paddy MSP being raised by Rs 100 to Rs 2,040 per quintal, a move aimed at encouraging farmers to bring more area under cultivation and boost their income. The Cabinet Committee on Economic Affairs (CCEA), chaired by PM Modi, approved the increase in MSPs for all 14 kharif (summer) crops for 2022-23 crop year.

Paddy procurement has increased 22 per cent so far in the ongoing kharif marketing season to 422.01 lakh tonnes, valued at Rs 79,675 crore. The kharif marketing season (KMS) starts from October. Paddy procurement for kharif 2020-21 is continuing smoothly in Punjab, Haryana, Uttar Pradesh, Telangana, Uttarakhand, Tamil Nadu, Chandigarh, Jammu & Kashmir, Kerala, Gujarat, Andhra Pradesh, Odisha, Madhya Pradesh, Maharashtra and Bihar, an official statement said. The Food Corporation of India and state agencies have purchased 422.01 lakh tonnes of paddy up to December 21 as against 346.10 lakh tonnes in the corresponding period of last year. "About 50.77 Lac farmers have already been benefitted from the ongoing KMS procurement Operations with MSP value of Rs 79675.58 crore," the statement said. Punjab has purchased 202.77 lakh tonnes till the close of procurement season in the state on November 30, accounting for 48.05 per cent of total procurement in the country. The government ...

Years close to elections see steepest rise in MSP, compared to non-election years