Cabinet approves hike in MSP for kharif crops
New Delhi: The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on Wednesday approved a hike in minimum support price (MSP) for Kharif crops for marketing season 2023-24.
Briefing media on Cabinet decisions, Commerce and Industry Minister Piyush Goyal said that the maximum increase in MSP has been approved in the case of Moong Dal.
The MSP for Moong Dal for Kharif marketing season 2023-24 has been raised by 10.4% to Rs 8,558 per quintal.
Goyal noted that the production of pulses in the last four years has increased by about 25% while in the case of oilseeds, the increase has been to the extent of 30%.
In the case of groundnut, the MSP has been raised by 9% for the Kharif marketing season. The MSP for sesamum seed has been raised by 10.3% to Rs 8,635 per quintal.
At Rs 2,183 per quintal, MSP for paddy (common) has been raised by 7%. Paddy-Grade A MSP has been fixed at Rs 2,203 per quintal.
Goyal said that while inflation has been contained, there has been an increase in MSP for various crops to benefit farmers.
As per Third Advance Estimates for 2022-23, total foodgrain production in the country is estimated at a record 330.5 million tonnes which is higher by 14.9 million tonnes as compared to the previous year 2021-22. This is the highest increase in the last five years.
(With UNI inputs)
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
With heavy hearts, devotees bid farewell to Goddess Durga across Northeast
13, including 10 children, die in two separate Durga idol immersion tragedies in Madhya Pradesh
Prez Droupadi Murmu, PM Modi pay tributes to Mahatma Gandhi and Lal Bahadur Shastri on birth anniversaries
Centre orders probe into Tamil Nadu-based cargo firm Wintrack Inc’s charges against Chennai Customs
