Minimum Support Prices For Kharif Crops:
The Cabinet Committee on Economic Affairs, chaired by PM Modi, has approved the increase in the Minimum Support Prices (MSPs) for all mandated Kharif crops for marketing season 2021-22.
- MSP for common paddy was hiked to ₹1,940 a quintal for the coming Kharif season, less than 4% higher than last year’s price of ₹1,868.
- The highest absolute increase in MSP over the previous year has been recommended for sesamum (Rs. 452 per quintal) followed by tur and urad (Rs. 300 per quintal each).
- In the case of groundnut and nigerseed, there has been an increase of Rs 275 per quintal and Rs 235 per quintal respectively in comparison to last year.
- The differential remuneration is aimed at encouraging crop diversification.
- The expected returns to farmers over their cost of production are estimated to be highest in the case of Bajra (85%) followed by urad (65%) and tur (62%).
- For the rest of the crops, the return to farmers over their cost of production is estimated to be at least 50%.
