India’s cabinet on June 8 approved a hike in minimum support prices for 17 crops for the 2022-23 kharif marketing season, Anurag Singh Thakur, the minister for information said.
The approved rates are in line with the principle of fixing the MSPs at a level of at least 1.5 times of the all India weighted average cost of production, an official said.
MSP refers to a state-set price at which government agencies procure select crops from farmers to shield them from price volatilities.
The issue of 5G spectrum pricing was not taken up in the cabinet meeting today, Thakur said.
| Crop | Increase in MSP (Rs/quintal) | MSP 2022-23 (Rs/quintal) |
| Paddy (common) | 100 | 2040 |
| Paddy (grade A) | 100 | 2060 |
| Jowar (hybrid) | 232 | 2970 |
| Jowar (Maladandi) | 232 | 2990 |
| Bajra | 100 | 2350 |
| Ragi | 201 | 3578 |
| Tur | 300 | 6600 |
| Moong | 480 | 7755 |
| Urad | 300 | 6600 |
| Groundnut | 300 | 5850 |
| Sunflower seed | 385 | 6400 |
| Soyabean (yellow) | 350 | 4300 |
| Sesamum | 523 | 7830 |
| Nigerseed | 357 | 7287 |
| Maize | 92 | 1962 |
| Cotton (medium staple) | 354 | 6080 |
| Cotton (long staple) | 355 | 6380 |
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