1. Home
  2. Business
  3. Union Cabinet approves hike in MSP for 2022-23 kharif season

Union Cabinet approves hike in MSP for 2022-23 kharif season

By Priyanka Verma 
Updated Date

New Delhi: On June 8, The Cabinet approved a hike in Minimum Support Price (MSP) for various Kharif (summer) crops for the year 2022-23, informed the officials on Wednesday. With an aim to ensure remunerative prices to the growers for their produce, the Central government increased the MSP of Kharif crops for the marketing season of 2022-2023.

Also Read :- Adani Group plans to invest Rs 6,50,000 crore in Rajasthan over next five to seven years

Information and Broadcasting Minister Anurag Thakur told reporters, “In today’s cabinet meeting, MSP of 14 kharif crops was approved. “The MSP of common grade variety of paddy has been increased to ₹2,040 per quintal for the 2022-23 crop year from ₹1,940 in the previous year. The support price of ‘A’ grade variety of paddy has been hiked to ₹2,060 per quintal from ₹1,960.

The meteorological department has forecast that the 2022 Southwest monsoon will be normal at 99% of long-term average. Paddy is the main kharif crop, the sowing of which has already begun. Normal to good monsoons in the last three years have aided kharif food grain production, up 2.8% on an average and this may result in kharif production going up by 2.5%, atop a 1.5% increase in rabi output.

The Information and Broadcasting Minister also highlighted several programmes launched during the last eight years by the Narendra Modi-led BJP government to boost farmers’ income and ensure comprehensive growth of the farm sector.

Also Read :- Rupee hits all-time low of 82.33 for the first time against US dollar in early trade
Further reading:
For the latest news and reviews, follow us on Facebook, YouTube and Twitter पर फॉलो करे...