The Centre on Wednesday hiked the MSP for Kharif crops by 4-9% for the 2022-23 crop year, with paddy MSP being raised by Rs 100 to Rs 2040 per quintal, a move aimed to encourage farmers to bring more area under cultivation and boost their income. The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, approved the increase in the MSPs for all 14 kharif crops for the 2022-2023 crop years.
“The MSP of Kharif crops has been increased in the range of Rs 92 to Rs 523 per quintal and this will help farmers fetch 50-85% profit on the cost of production”. Agriculture Minister Narendra Singh Tomar tweeted after the cabinet decision.
“Government has increased the MSP of Kharif Crops for 2022-23, to ensure remunerative prices to the growers for their produce and to encourage crop diversification”, an official statement said. Briefing reporters, Information and Broadcasting Minister Anurag Thakur said the Modi government has taken several steps ‘beej se bazaar tak’(from seed to market) in the last eight years that have helped increase of farmers.