Government hikes minimum support price for khariff crops 

Union cabinet headed by Prime Minister Narendra Modi on Wednesday, June 7, hiked minimum support price (MSP) for a range of khariff crops, Union Minister Piyush Goyal informed reporters at a press conference in New Delhi.

Union Cabinet headed by PM Modi hiked MSP for moong by 10.4 per cent to Rs 8,558 per quintal for 2023-24 from Rs 7,755. MSP of groundnut was hiked by 9 per cent to Rs 6,357 per quintal, MSP for sesame seed was hiked by 10.3 per cent to Rs 8,635 per quintal, MSP for common grade paddy was hiked by 7 per cent to Rs 2,183 per quintal and to Rs 2,203 per quintal for grade A paddy.

MSP for ragi, jowar, bajra, maize, arhar dal, urad dal, sunflower seeds and soybean, was also hiked in range of 6-7 per cent for 2023-24 khariff marketing season, Goyal said.

Government also hiked MSP for cotton. MSP for medium staple cotton was increased 8.9 per cent to Rs 6,620 per bale and MSP for non staple cotton was advanced by 10 per cent to Rs 7,020.

Goyal added that India's khariff crop production will likely rise to 330 million tonnes this year up from 285 million tonnes in 2018-19 despite challenges like Covid, Ukraine war and shortage of fertilisers.