Union Minister Dharmendra Pradhan hailed the Central government's decision to hike the minimum support price (MSP) for paddy by Rs 200 per quintal. He said by doing this Prime Minister Narendra Modi has fulfilled his promise to the farmers.
"The Prime Minister has taken a historical step for the farmers of the nation. He has fulfilled the promise he made earlier and has boosted the rural economy of the nation," Pradhan told ANI.
On Wednesday, the Cabinet Committee on Economic Affairs also approved the increase in MSP of 14 Kharif crops.
The MSP of paddy (common grade) has been increased by Rs 200 to Rs 1,750 per quintal, while that of Grade A variety by Rs 160 per quintal to Rs 1,750.
The MSP of medium staple cotton has been increased to Rs 5,150 from Rs 4,020 earlier, and that of long staple cotton to Rs 5,450 from Rs 4,320 per quintal.
In pulses, MSP of Tur has been raised to Rs 5,675 per quintal from Rs 5,450, while that of Moong to Rs 6,975 per quintal from Rs 5,575.
Urad MSP has been hiked to Rs 5,600 from Rs 5,400 per quintal.
Earlier, PM Narendra Modi had assured farmers that the Centre will approve the higher minimum support price for Kharif crops. Paddy is the main Kharif crop, the sowing of which has already begun with the onset of southwest monsoon.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)