Fulfilling Its Promise On Improving Farmers’ Income, PM Led Cabinet Approves Hike In MSP Of Paddy & Pulses

The Logical Indian Crew India

July 7th, 2018 / 10:06 PM

MSP

Image Credit: India, The Times of India 

To fulfil the promise that Prime Minister Narendra Modi made to farmers in his 2014 campaign of providing farmers 50% more rate than their cost of production, the Centre has finally approved an increase of Rs 200 in the Minimum Support Price (MSP) of paddy. The decision was taken by the Union Cabinet headed by Narendra Modi, a year before 2019 assembly elections. Notably, the government aims to double the farmers’ income by 2022.

The Minimum Support Price (MSP) is a sort of government intervention in the market price of crops to support farmers in case of sudden fall in the price of agricultural produce. MSP is a guaranteed price in the state. This announcement of increased MSP along with a good monsoon forecast can boost food grain production in India.


What are the changes?

The Cabinet Committee on Economic Affairs (CCEA), at its meeting on Wednesday, approved the MSP for 14 Kharif (summer-sown) crops, reported The Hindu.  

According to sources, the MSP for paddy (common grade) has been increased by ₹200 to ₹1,750 a quintal, while that of Grade A variety by ₹160 a quintal to ₹1,750. The MSP for paddy (common) was ₹1,550 a quintal and ₹1,590 a quintal for paddy (Grade A) variety.

The MSP for cotton (medium staple) has been increased to ₹5,150 from ₹4,020 and that of cotton (long staple) to ₹5,450 from 4,320 a quintal. In pulses, MSP of ‘toor daal’ has been raised to ₹5,675 a quintal from ₹5,450, and that of moong to ₹6,975 a quintal from ₹5,575. Urad MSP has been hiked to ₹5,600 from ₹5,400 a quintal.

The Food Commission of India (FCI) purchases food grains from farmers at MSP and supplies the grains under the food security law. India harvested a record high of foodgrains at 279.51 million tonnes in the 2017-18 crop year (July-June), an all-time high output of rice, wheat, coarse cereals and pulses.

Farm experts are of the opinion that it would boost rice production in India, which is already at an all-time high. It covers 50% of the total acreage of food grain crops during Kharif season.


Also published on Medium.


Contributors

Written by : Poorbita Bagchi

Edited by : Abhinav Joshi

Share your thoughts..

Related Stories

MSP

Fulfilling Its Promise On Improving Farmers’ Income, PM Led Cabinet Approves Hike In MSP Of Paddy & Pulses

PM Modi Promises MSP 50% Over Cost Of Production For Farmers

Farmers Discontent Rising As Garlic Prices Fall To Rs 1 Per Kg In MP

Maharashtra: 400 Kgs Of Cauliflower For Rs 442; Farmer Destroys Crop In Anger

Farmers

UP Govt Officials Allegedly Create A Fake List Of Farmers & Pocket Over Rs 2 Crore

State Bans Growing Of Summer Paddy In Chhattisgarh

Latest on The Logical Indian

News

Maharashtra Businessman Allegedly Took Rs 5,400 Crore Loan In The Name Of Farmers

News

AAP Government Files Case Against Delhi Golf Club For Illegally Cutting Over 100 Trees

Awareness

Now Only Pay For Electricity That You Consume; UP Govt Allows Flat Owners Individual Power Connections

My Social Responsibility

For Those Who Have No One, This 31-Yr-Old From Hyderabad Performs Their ‘Last Rites’

Sponsored

Now Address Insurance Related Queries Without Leaving Your Favourite Social Media Platform

Sponsored

Enabling Village – A Community Space To Enable Persons With Disabilities Lead A Dignified Life

x

Stories that deserve attention, delivered to your inbox!

Handpicked, newsworthy stories which deserve the attention of a rational generation.