Kharif crops MSP witnessed over 50% hike since 2014, claims Modi-led Indian govt

New Delhi

The Indian government led by Prime Minister Narendra Modi on Wednesday claimed that Kharif crops MSP has witnessed a 50% on average hike with Bajra (millet) recording the highest of 82%.

This was announced by an Indian government spokesperson who also informed that PM Modi-led Cabinet has approved a 10% hike in MSP for the 2023-24 marketing year.

Now the MSP of Paddy is Rs 2183 while Paddy A Grade Rs 2203, Maize Rs 2090, Bajra Rs 2500, Tur/Arhar Rs 7000, Soyabean Rs 4600, Urad Rs 6950, Cotton Medium Staple Rs 6620 and Cotton long Staple Rs 7020.

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“This year’s hike is aimed at fulfilling the Modi government’s promise to provide at least 1.5 times over the all-India weighted cost of production to ensure better prices to farmers.

The highest minimum support price hike is recorded for bajra at 82%, followed by tur at 58%, Soybean at 52% and Urad at 51% while it is estimated around 50% for the rest of the crops,” the spokesperson added.

The MSP price hike is compared with 2013-14 when the Modi-led BJP government took the reins in New Delhi that saw the longest-ever farmers’ protests to secure better prices for their crops.

In addition to MSP price hikes, the government is also promoting the cultivation of pulses, oilseeds and nutri-cereals to further boost their economy.

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The official further stated that India’s foodgrain production is likely to increase to 330.5 million tonnes in 2022-23 as compared to 326 million tonnes in the previous year.