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National News
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| Cabinet hikes MSP of paddy by Rs 200 per quintal | | | | New Delhi 04 July 2018(Agencies)
CCEA today hiked the minimum support price for paddy by a record 200 rupees per quintal. Briefing about the decision in New Delhi, Home Minister Rajnath Singh said the cabinet has approved the MSP of 14 Kharif crops for the 2018-19 season. The government's price advisory body CACP has calculated production cost of paddy at 1,166 rupees per quintal. The Minister said the government has raised the MSP of paddy (common grade) by 200 rupees to 1,750 rupees per quintal for 2018-19 season.
The support price of Grade A variety of paddy has been raised by 180 rupees per quintal to 1,770 rupees. The increase in paddy MSP is 50-51 per cent over its production cost. Mr Singh said this will send a positive message to farmers and boost their confidence and end farm distress. Terming it as a historic decision, the minister said the sharp increase in MSP was done after lot of consideration and not in hurry. The hike in the MSP will cost the exchequer over 15,000 crore rupees. | | | | |
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