Cabinet hikes MSP of paddy by Rs 200 per quintal

New Delhi, Jul 4: Government today hiked the minimum support price for paddy by 200 rupees per quintal. The Cabinet Committee on Economic Affairs also approved  the increase in MSP of 14 Kharif crops.

According to sources, the MSP of paddy (common grade) has been increased by 200 rupees  to 1,750 rupees per quintal, while that of Grade A variety by 160 rupees per quintal to 1,750 rupees.

The MSP of  medium staple cotton   has been increased to 5,150 rupees from 4,020 rupees and that of  long staple cotton   to 5,450 rupees from 4,320 rupees per quintal.

In pulses, MSP of Tur has been raised to 5,675 rupees per quintal from 5,450, and that of Moong to 6,975 per quintal from 5,575 rupees. Urad MSP has been hiked to 5,600 from 5,400 rupees per quintal.

Prime Minister Narendra Modi had assured  farmers during an interaction  last Friday that the Centre will approve the higher Minimum Support Price for Kharif crops. Paddy is the main kharif crop, the sowing of which has already begun with the onset of southwest monsoon.