Government hikes paddy MSP by Rs 53 / qtl for 2020-21
Published Jun 23, 2020
Tridge summary
The decision, taken by the cabinet headed by Prime Minister Narendra Modi, will give respite to farmers and also help them take a call on which kharif (summer) crop to grow as sowing picks up with the arrival of southwest monsoon.
Original content
NEW DELHI: The government on Monday raised the minimum support price (MSP) of paddy marginally by Rs 53 per quintal to Rs 1,868 per quintal for the 2020-21 crop year, while the rates for oilseeds, pulses and cereals were hiked substantially. Among commercial crops, the MSP of cotton was increased by Rs 260 per quintal to Rs 5,515 for medium staple variety, and by Rs 275 per quintal to Rs 5,825 for long staple variety of cotton for the current crop year (July-June). The government has also extended till August 31 the repayment date of short-term crop loan of up to Rs 3 lakh for agriculture and allied activities. Paddy is the main kharif crop, the sowing of which has already begun and covered in 35 lakh hectare so far. The Met Department has projected normal monsoon for the June-September period. Based on the recommendation of the Commission for Agricultural Costs and Prices (CACP), the cabinet has approved MSP of 14 kharif crops for 2020-21. Farmers would get 50-83 per cent higher ...
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