In a big boost to farmers, Govt hikes MSPs of all Kharif crops

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Biznextindia :  With a view to increase farmer’s income, the Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved the increase in the Minimum Support Prices (MSPs) for all kharif crops for 2019-20 Season.

The increase in MSP is in line with the principle of fixing the MSPs at a level of atleast 1.5 times of the all India weighted average Cost of production (CoP), which was announced in the last budget 2018-19. Through the MSP policy the farmers are assured of a minimum of 50 percent as margin of profit.

The MSPs of Paddy (common) has been increased by Rs.65 per quintal to Rs.1815 and Paddy (Grade-A) by 65 to Rs.1835. The Government has also increased the MSPs of soyabean by Rs 311 per quintal, sunflower by Rs 262 per quintal and sesamum by Rs 236 per quintal. Government has increased the MSPs of Tur dal by Rs.125 per quintal and uraddal by Rs.100 per quintal. This will help address the issues related to requirement of pulses in view of the need to meet the nutritional security and protein requirements of a large section of population. The MSP of Jowar has been hiked by Rs 120 per Quintal while in case of Ragi it has been hiked by Rs 253 per quintal. For cotton (medium staple) and cotton (long staple), the MSP has been increased by Rs. 105 per quintal and Rs. 100 per quintal respectively. The highest percentage return to farmers over their cost of production is for Bajra (85%) followed by urad (64%) and tur (60%).

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