New Delhi: With a view to boosting farmers’ income, the Centre on Wednesday cleared a proposal to increase the minimum support price (MSP) of all kharif crops for the financial year 2019-20.
Increase in farmers’ remunerative was one of the poll planks of Prime Minister Narendra Modi in the 2019 elections.
As per the decision of the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi:
1. The MSP of paddy has been increased by Rs 65 per quintal, jowar by Rs 120 per quintal and ragi by Rs 253 per quintal.
2. Likewise, the MSP of tur, moong and urad pulses has been raised by Rs 125, Rs 75 and Rs 100 respectively, said a statement issued by the Press Information Bureau.
3. The MSP of groundnut has been increased by Rs 200 per quintal and MSP of soyabean has been hiked by Rs 311 per quintal.
4. The MSP of medium cotton has also been raised by Rs 105 per quintal and long cotton MSP is up by Rs 100 per quintal.
“The move will lead to increased investment and production through assured remunerative prices to the farmers,” the PIB statement said.
The increase in MSP for kharif crops for 2019-20 season is in line of fixing the MSPs at a level of at least 1.5 times of the all India weighted average Cost of Production (CoP) announced in the last budget 2018-19, said some media reports.
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