Modi cabinet increases Kharif crops MSP by over 50% for marketing season 2020-21
Published Jun 19, 2020
Tridge summary
The Cabinet Committee on Economic Affairs (CCEA) chaired by the Prime Minister Narendra Modi has approved the increase in the Minimum Support Prices (MSPs) for all mandated Kharif crops for marketing season 2020-21 by over 50 percent.
Original content
NEW DELHI, 2 June 2020: The Cabinet Committee on Economic Affairs (CCEA) chaired by the Prime Minister Narendra Modi has approved the increase in the Minimum Support Prices (MSPs) for all mandated Kharif crops for marketing season 2020-21 by over 50 percent to ensure remunerative prices to the growers for their produce. The highest increase in MSP is proposed for nigerseed (Rs 755 per quintal) followed by sesamum (Rs 370 per quintal), urad (Rs 300 per quintal) and cotton (long staple) (Rs 275 per quintal). The differential remuneration is aimed at encouraging crop diversification. The increase in MSP for Kharif Crops for marketing season 2020-21 is in line with the Union Budget 2018-19 announcement of fixing the MSPs at a level of at least 1.5 times of the All-India weighted average Cost of Production (CoP), aiming at reasonably fair remuneration for the famers, the agriculture ministry said in a statement. The expected returns to farmers over their cost of production are ...
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