Centre increases MSP for kharif crops for 2023-24 

The Centre on Wednesday increased the minimum support price (MSP) for kharif crops for the marketing season of 2023-24. The decision taken by the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, will encourage farmers to increase the sown area and diversify crops to maximize their income. The MSP has been hiked for paddy, millet, maize, and tur, among others.

Biggest hike in years: Piyush Goyal

The MSP for paddy, the most widely grown crop in India, has been increased by Rs. 143 per quintal. Amid retail inflation experiencing a declining trend, farmers are likely to reap more benefits from the MSP hike. This year's raise is the highest compared to previous years, said Consumer Affairs, Food and Public Distribution Minister Piyush Goyal.