July 23, 2024

Why in News ?

Union Cabinet approved an increase in Minimum Support Price (MSP) of Kharif crops for 2021-22, to increase farmers’ income.

About:

  • Centre has increased MSP for paddy by Rs 72. It now stands at to Rs 1,940 per quintal for 2021-22 crops.
  • Highest absolute increase in MSP over previous year has been recommended for sesamum, followed by tur and urad.
  • MSP on groundnut and niger seed was increased by Rs 275 per quintal and Rs 235 per quintal, respectively.
  • Differential remuneration was fixed with the aim of encouraging crop diversification.
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