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Business News

Jul 04, 2019
8:00AM

Govt hikes Minimum Support Price of Kharif crops for 2019-20 season

PIB
In a major boost to the farmers’ income, the Cabinet Committee on Economic Affairs has approved the increase in the Minimum Support Prices, MSP for all Kharif crops for 2019-20 Season.

Briefing reporters in New Delhi after the cabinet meeting, Agriculture Minister Narendra Singh Tomar said, the move will lead to increased investment and production through assured remunerative prices to the farmers.

He said the MSP of paddy has been increased by 65 rupees per quintal, Jowar by 120 rupees and Ragi by 253 rupees per quintal. He said the MSP of Tur has been raised by 125 rupees, Moong by 75 rupees and Urad pulses raised by 100 rupees per quintal.  

The Minister said, the MSPs of soyabean increased by 311 rupees, sunflower by 262 rupees and sesamum by 236 rupees per quintal which is a major step towards increasing the income of farmers.

The increase in MSP for Kharif Crops for 2019-20 season is in line with the principle of fixing the MSPs at a level of at least 1.5 times of the all India weighted average Cost of production, which was announced in the last budget 2018-19. 

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