(Image source from: Indiatvnews.com)

For the year 2023-24, the minimum support price for Kharif crops prices has been raised by the Union cabinet on Wednesday. The Cabinet Committee on Economic Affairs (CCEA) has authorized the rise of MSP for all the required Kharif(Summer) crops. Compared to previous years, the price has been largely hiked.

On June 7th under the leadership of Narendra Modi, cabinet ministers increased MSP for Hydrib corn, Ragi, Sunflower Seeds, Soya Beans, Corn and peanuts. Moong Dal MSP is increased to Rs 8,558/- per quintal, which is a nearly 10 per cent hike from last season. Food and Consumer Affairs Minister Piyusha Goyam mentioned that due to the declaim in retail inflation, the decision was taken. Long staple cotton was seen hike of 10 per cent, Ground nuts by 9 per cent and paddy with 7 per cent have seen a hike of prices.

For paddy cabinet approved Rs 2,183 per quintal with a hike of Rs 143 for 2023-24. A grade variety of paddy was hiked for Rs 163 per quintal and total with a price of Rs 2203/- from Rs 2060/-. Narendra Modi directed the Cabinet Ministers to help farmers in whichever way they can and the decision was to help Kharif season farmers. Ministers also gave approval to the Delhi metro expansion in the same cabinet meet.