The Government on Wednesday raised the minimum support price (MSP) for paddy by ₹50 to ₹1,360/quintal. The MSP for pulses has been hiked by ₹100/quintal.

The MSP, raised after being approved by the Cabinet Committee on Economic Affairs on Wednesday, will not result in inflation, the Government said, adding that it was done to primarily encourage farmers to cultivate rice.

Paddy is a major kharif crop, sowing of which starts with the onset of monsoon in June.

Briefing the media after the CCEA meeting, Law and Telecom Minister Ravi Shankar Prasad said paddy MSP of Grade ‘A’ variety had been raised by ₹55 to ₹1,400 a quintal.

Prasad discounted any impact of these decisions on inflation, saying, “We are taking several measures to control inflation.” In view of possibility of below normal monsoon, the Government has got into action and taken several steps to control prices, he said.

The MSP for cotton has been increased by ₹50 to ₹3,750 for medium staple and to ₹4,050/quintal for long staple.

For pulses, the CCEA approved a ₹50 hike in the support price of tur and urad to ₹4,350 each, while that for moong was raised by ₹100 to ₹4,600 a quintal.

In oilseeds, an increase of ₹50 was announced in the support price of sunflower seed to ₹3,750 , besides a ₹100 hike in MSP of sesamum and nigerseed at ₹4,600 and ₹3,600 respectively.

The Government also approved hike in jowar MSP by ₹30 to ₹1,530 for the hybrid variety and ₹1,550 a quintal for the maldandi variety for this year. Ragi’s MSP was raised by ₹50 to ₹1,550.

The Agriculture Ministry had recommended retaining the MSP of bajra and maize at ₹1,250 and ₹1,310 respectively and had proposed keeping the MSP of groundnut and soyabean unchanged for this year at ₹4,000 and ₹2,500-60 a quintal, respectively.

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