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4 July 2018
 |
Crop
(The Total Investment & Insurance Solutions)
Government
on Wednesday made a sharp increase in the minimum support price (MSP) of paddy–
the key kharif crop, by 13 percent to Rs 1,750 per quintal for the 2018-19 crop
year. The Total Investment &
Insurance Solutions
To
woo distressed farmers ahead of 2019 general polls, the government has also
accepted the MSP of the 14 kharif crops.
The
Cabinet Committee on Economic Affairs (CCEA) at its meeting approved the MSP of
14 Kharif (summer-sown) crops.
The
MSP of paddy (common grade) has been increased by Rs 200 to Rs 1,750 per
quintal, while that of Grade A variety by Rs 160 per quintal to Rs 1,750.
The
MSP of cotton (medium staple) has been increased to Rs 5,150 from Rs 4,020 and
that of cotton (long staple) to Rs 5,450 from 4,320 per quintal.
In
pulses, tur MSP has been raised to Rs 5,675 per quintal from Rs 5,450, and that
of moong to Rs 6,975 per quintal from Rs 5,575. Urad MSP has been hiked to Rs
5,600 from Rs 5,400 per quintal. The
Total Investment & Insurance Solutions
Prime
Minister Narendra Modi had last week announced that the the Cabinet will
approve the hike in MSP to at least 1.5 times of the production cost in the
forthcoming meeting. The Total
Investment & Insurance Solutions
In
this year's general budget, the government had announced that it would fix a
support price at least 1.5 times of the cost of the production. This was the
BJP's poll promise in 2014 general elections.
Normally,
the MSP is announced just before the start of the sowing to help farmers choose
the crop they want to sow. Sowing of kharif crops begins with the onset of
southwest monsoon and harvesting from October.
Farm
experts are of the view that the sharp increase in the paddy MSP could further
boost India's rice production, which touched an all-time high of 111 million
tonnes in 2017-18 crop year and the output is much more than the domestic
demand. The Total Investment &
Insurance Solutions
The
cultivation of paddy, which is a water guzzling crop, needs to be discouraged
and not promoted, they said, adding that higher rice production will lead to
increase in government procurement and swelling of the food subsidy bill.The Total Investment & Insurance
Solutions
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