India: The Indian Union Cabinet has taken a big decision and has approved a rise in the Minimum Support Price MSP of few crops. These crops are mainly kharif crops which are grown in the monsoon season. The price has been increased for marketing season 2023 to 24. This is a big relief to the farmers as they have been struggling to grow their crops due to heat wave like conditions. Kharif crops normally require a lot of water which makes it difficult for farmers in summer season.
Increase in MSP encourages farmers
The decision to increase MSP has been taken so that the farmers are encouraged as well as awarded for their growth. This move will also encourage crop diversification. Moong dal sees the highest hike in its MSP for the year 2023-24. The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved the hike allowed ₹143 hike in paddy MSP which brings it to ₹2,183 per quintal for 2023-24. This move comes at a time when the retail inflation is on a declining Trend says Goyal. He said that the farmers will benefit highly from the increase in MSP.
In an official statement, Goyal stated that the increase in MSP of kharif crops for 2023-24 is greater than that of the previous year’s. He said that “In agriculture, we have continuously monitored the MSP and changed it from time to time according to the recommendations of the CACP (Commission for Agricultural Costs and Prices. “Previously, the price of the common grade variety paddy was rupees 2040 which has now become rupees 2183 per quintal. Mean by support price of A grade variety of paddy has become 2203 per quintal which previously was 2060. The price for A grade has been increased by rupees 163”. He continued.
Moong dal sees highest rise in MSP
As mentioned before, moong dal has had the highest increase in MSP which is by 10.4%. The price of per quintal of moong dal now stands at rupees 8,558 in 2023-24. Previously the price of moong dal was rupees 7,755 per quintal. However, it is important to know that paddy easy most important kharif crop which is normally grown with the onset of Southwest monsoon. This year the monsoon will be normal as per Indian Meteorological Department IMD. Normal rains from June to September can be expected.