Cabinet approves increased MSP For Kharif crops, paddy MSP soars to ₹2,183 per quintal, moong dal sees highest hike

The Union Cabinet has approved an increase in the Minimum Support Price (MSP) for Kharif crops during the 2023-24 marketing season. The decision aims to ensure fair prices for farmers' produce and promote crop diversification. Union Minister Piyush Goyal announcing the cabinet decisions said it is the highest-ever growth that has been made by the cabinet in the Minimum Support Price for 2023-2024. Under the new MSP, the minimum support price for paddy has been raised from Rs 2,040 per quintal to Rs 2,183 per quintal. The highest increase is observed in the price of Moong Dal, with the MSP being raised to Rs 8,558 per quintal from Rs 7,755 per quintal.