Govt increases price at which it buys paddy from farmers

June 01, 2016 13:21

In a move that will benefit farmers, the government today hiked the minimum support price (MSP) of paddy by Rs 60 to Rs 1,470 per quintal for the 2016-17 kharif season. A decision in this regard was taken in the meeting of the Cabinet Committee of Economic Affairs (CCEA).

The Cabinet also approved a substantial increase in the MSP of pulses for the 2016-17 kharif season. The government had fixed the MSP of common variety paddy at Rs 1,410 and grade A variety grain at Rs 1,450 per quintal for 2015-16 kharif (summer) season. MSP is the rate at which the government buys the grain from farmers. Sowing of kharif crops will begin with the onset of southwest monsoon this month. Paddy is the main crop grown in the season.

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