Representational Image | Photo: PTI
New Delhi: The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, on Wednesday approved the increase in Minimum Support Prices (MSP) for kharif crops for 2023-24 season.
MSP for paddy (common variety) has been hiked from Rs 2,040 per 100 kg to Rs 2,183. For Grade A variety, it was hiked from Rs 2,060 to Rs 2,203.
For millets such as bajra and ragi, the MSP has been hiked from Rs 2,350 to Rs 2,500; and Rs 3,578 to Rs 3,846.
For pulses tur, moong, and urad, the MSP was hiked Rs 6,600 to Rs 7,000; Rs 7,755 to Rs 8,558, Rs 6,600 to Rs 6,950.
India has three cropping seasons -- summer, kharif, and rabi. Crops sown during June-July and harvested in October-November are kharif.
The government believes the rise in prices will encourage crop diversification. Government through its agencies procure crops from farmers from time to time at support prices.
Addressing a press conference here, Union Food and Public Distribution Minister Piyush Goyal reiterated total foodgrain production for the agricultural year 2022-23 is projected at 330.5 million tonnes.
As per third advance estimates for 2022-23, total foodgrain production in the country is estimated at record 330.5 million tonnes, which is higher by 14.9 million tonnes as compared to the previous year 2021-22. This is the highest increase in the last five years.