CCEA hikes paddy MSP by Rs 50 to Rs 1,410/qtl for 2015-16

June 17, 2015 15:14

The Cabinet Committee on Economic Affairs today increased the minimum support price of paddy by Rs 50 to Rs 1,410 per quintal for this year.

Sources said, "CCEA has approved increase in the MSP of paddy for the 2015-16 kharif season."

The decision on paddy is in line with the recommendation of the Commission for Agricultural Costs and Prices (CACP), a government advisory body.

For 2014-15 kharif season, the government had fixed the MSP of common variety paddy at Rs 1,360 and grade A variety grain at Rs 1,400 per quintal.

MSP is the rate at which government buys the grain from farmers.

Paddy is the main crop grown in the kharif (summer) season. Sowing of kharif crops has already started with the onset of the South-West monsoon from June.

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