Govt hikes MSP for paddy, other kharif crops as sowing season begins

The support price of 'A' grade variety of paddy has been hiked to Rs 2,060 per quintal from Rs 1,960.

The government on Wednesday hiked the minimum support price (MSP) for paddy by Rs 100 to Rs 2,040 per quintal for 2022-23 crop year in order to encourage farmers to bring more area under the crop and boost their income.

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved the increase in MSPs for all 14 kharif (summer) crops for 2022-23 crop year.

"Government has increased the MSP of kharif crops for 2022-23, to ensure remunerative prices to the growers for their produce and to encourage crop diversification," an official statement said.

Briefing media, Information and Broadcasting Minister