government approves hike in MSP for kharif crops

Government approves hike in MSP for Kharif crops

To fulfill its commitment of supplementing farmers’ income and address rising distress among farmers, the government on Wednesday announced an increase in MSP of 14 crops sown in the summer season. Among these crops were paddy and cotton that saw a hike of 13 per cent and 28 per cent respectively.

The decision, taken by the Cabinet Committee on Economic Affairs headed by Prime Minister Narendra Modi, comes less than a year before the next general election.

The previous highest increase in paddy MSP was Rs 170 a quintal in the 2012-13 the election year of the second United Progressive Alliance government led by Congress.

The National Democratic Alliance led by the BJP Government has raised the MSP paddy between Rs 50 and Rs 80 per quintal over the past four years.while the BJP had promised in 2014 to give farmers a price of 1.5 times of cost, an announcement to give effect to the promise was made in the government’s fifth and final annual Budget presented on February 1 this year.

Home Minister Rajnath Singh told that government approved the MSP of 14 kharif (summer-sown) crops for the 2018-19 season.

CACP which is the government’s price advisory body has calculated production cost of paddy at Rs 1,166 per quintal and the government has raised the MSP of paddy (common grade) by Rs 200 to Rs 1,750 per quintal for 2018-19 season, he said.The support price of Grade A variety of paddy has been raised by Rs 180 per quintal to Rs 1,770. The increase in paddy MSP is 50-51 per cent over its production cost.This sends a positive message to farmers and increases their trust and ends the distress of the farm the Singh said.Enhanced MSP will provide farmers with income support, boost production, encourage investment, reduce import charges and improve food security.

source www.telegraphindia.com

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