Farm Laws

The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved the increase in the Minimum Support Prices (MSP) for all mandated Kharif crops for marketing season 2022-23 by 4-9 per cent. "This (hike) bodes well for keeping inflationary pressures in check. However, rural demand is likely to remain subdued with sentiments being boosted in case of a good monsoon and prospects of a bumper harvest," the report said.

"The government has increased the MSP of kharif crops for marketing season 2022-23, to ensure remunerative prices to the growers for their produce and to encourage crop diversification," Information and Broadcasting Minister Anurag Thakur told media persons after the cabinet meeting. The MSP for paddy common and paddy grade.

India was till last week headed to a record production but the heat wave that started in March and continued in April over northwest India is set to affect produce, especially in Punjab and Haryana.

The paddy procurement is progressing smoothly in the KMS 2021-22 at MSP in the procuring states/UTs of Chandigarh, Gujarat, Assam, Haryana, Himachal Pradesh, Jammu & Kashmir, Jharkhand, Punjab, Uttar Pradesh, Uttarakhand, Telangana, Rajasthan, Kerala, Tamil Nadu, Karnataka, West Bengal, Tripura, Bihar, Odisha, Maharashtra, Puducherry, Chhattisgarh, Andhra Pradesh and Madhya Pradesh, a statement from the Ministry of Consumer Affairs, Food & Public Distribution said.