Lagatar24 Desk
New Delhi, June 8: The Union Cabinet authorised an increase in the Minimum Support Price (MSP) for several Kharif (summer) crops for the year 2022-23 on Wednesday, according to Union Minister Anurag Thakur. The MSP for Kharif crops for the crop year 2022-23 will now rise.
Prime Minister Narendra Modi’s Cabinet Committee on Economic Affairs (CCEA) has authorised a hike in MSP for all mandatory Kharif crops for the crop year 2022-23.
For the 2022-23 crop year, the MSP for common grade paddy has been increased to 2,040 per quintal, up from 1,940 the previous year.
The measure is also intended to strengthen the government’s Atmanirbhar Bharat scheme, which aims to reduce reliance on imports and increase self-sufficiency.
As stated in the Cabinet decisions, raising prices may lead to increased investment and production.
“Dependence on imports has reduced. Farmers’ income has increased. Approved rates are in line with the principle of fixing the MSPs at a level of at least 1.5 times,” said information and broadcasting minister Anurag Thakur.
