Centre announces hike in MSP for Kharif Crops

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.Read More