GoI increases Minimum Support Price of 14 Kharif crops
On June 1, 2020, the Union Cabinet approved hike of Minimum Support Price of 14 Kharif crops.
The Minimum Support Price of Paddy has been increased by Rs 53 per quintal. The MSP of paddy has been fixed at Rs 1,868 per quintal for the year 2020-21. The rates of pulses, oil seeds and cereals have also been increased.
The MSP of cotton has been increased from Rs 5,255 per quintal to Rs 5,515 per quintal. The increase of MSP for other crops are as follows
- Nigerseed-Rs 755
- Sesamum-Rs 370
- Soybean-Rs 170
- Sunflower Seed-Rs 235
- Groundnut-Rs 185
- Urad-Rs 300
- Moong-Rs 146
- Tur-Rs 200
- Maize-Rs 90
- Ragi-Rs 145
- Bajra-Rs 150
- Jowar-Rs 70
The Cabinet approved the hike in prices of MSP based on the recommendation of Commission for Agricultural Costs and Prices.
Also, the umbrella scheme Pradhan Mantri Annadata Aay Saraks Han Abhiyan (PM-AASHA) will help in providing return to farmers.
The scheme consists of three sub-schemes namely Price Deficiency Payment Scheme, Price Support Scheme, Private Procurement and Stocklist Scheme.
Apart from this, the farmers are to be provided food security through PM-KISAN (Pradhan Mantri Kisan Samman Nidhi) scheme and also through Pradhan Mantri Garib Kalyan yojana.
Month: Current Affairs - June, 2020
Category: India Nation & States Current Affairs