Government increases paddy MSP by Rs 117 to Rs 2,300 per quintal for 2024-25

Farmer friendly measure: On Wednesday, the government announced a 5.35 percent increase in the minimum support price (MSP) for paddy, raising it by Rs 117 to Rs 2,300 per quintal for the 2024-25 kharif marketing season. Despite holding surplus rice stocks, this hike is noteworthy as it comes ahead of elections in states like Haryana, Maharashtra, Jharkhand, and Delhi.

Information and Broadcasting Minister Ashwini Vaishnaw announced that the cabinet has approved the MSP for 14 kharif (summer) crops. The decision is based on the recommendations from the Commission for Agricultural Costs and Prices (CACP).

As per an official statement, the Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the increase in the Minimum Support Prices (MSP) for all mandated Kharif Crops for Marketing Season 2024-25. “Government has increased the MSP of Kharif Crops for Marketing Season 2024-25, to ensure remunerative prices to the growers for their produce. The highest absolute increase in MSP over the previous year has been recommended for oilseeds and pulses viz. nigerseed (Rs.983/- per quintal) followed by sesamum (Rs.632/- per quintal) and tur/arhar (Rs 550/- per quintal),” said the statement. 

In the recent years, government has been promoting the cultivation of crops, other than cereals such as pulses and oilseeds, and Nutri-cereals/ Shree Anna, by offering a higher MSP for these crops, added the statement. 

(With PTI inputs)