Cabinet Committee on Economic Affairs approves hike in minimum support price for Kharif crops

NEW DELHI: The Cabinet Committee on Economic Affairs approved increasing the minimum support prices between 15.7 per cent and 53 per cent.

The increase will benefit crops such as paddy, urad, cotton and maize besides others.

P Chidambaram, the Home Minister, said, “This increase has been made on the basis of recommendations given by Commission for Agricultural Costs and Prices (CACP). However, the CCEA has referred the MSP proposal back for two pulses such as tur and urad to seek some more clarifications.”

The most common kharif crop paddy (common) has witnessed minimum growth of more than 15 per cent, while maximum increase has been done in the case of jowar with more than 53 per cent. Ragi follows next in terms of increase. At the same time, MSP for urad, groundnut, soyabean and sunflower has been increased by over 30 per cent.