Minimum Support Price (MSP) For Kharif Crops : 2023-2024
The Indian government has approved the Minimum Support Price (MSP) for kharif crops for the 2023-24 season, aiming to provide fair remuneration to farmers.
- However, concerns have been raised by farmers’ organisations regarding the increase not keeping up with rising input costs.
- The Centre claimed that the hike in MSP for kharif crops for 2023-24 is in line with the Union Budget 2018-19 announcement of fixing the MSP at a level of at least 1.5 times the All-India weighted average cost of production.
- The MSP has been hiked for all 14 kharif crops in the range of 5.3 to 10.35 %. In absolute terms, it has been increased by Rs 128 to Rs 805 per quintal.
- Green gram (moong) got the highest hike of 10.4% over 2022-23 followed by sesamum that saw an increase of 10.3%.
Kharif Crops:
- Kharif crops are the crops that are sown in the rainy season, from June to September.
- Some of the major kharif crops are paddy, maize, millets, pulses, oilseeds, cotton and sugarcane.
- Kharif crops account for about 55% of the total foodgrain production in India.
