Back
Home » Business
  •  
    Filmi Bollywood
    • Bhaiaji Superhit Teaser: Sunny Deol Is Back In Action, Preity Zinta Reveals Her Funny Side!
    • Morning Shows Of Manto Get Cancelled In Several Cities, Nandita Das Says She Is Shocked!
    • This BTS Video Of Namaste England Gives A Glimpse Of All The Zest That Happened On Set
    • The Stree Effect! Shraddha Kapoor Races Ahead Of Alia Bhatt; Find Out Details!
    • Virat Kohli To Debut In A Movie & Will Clash With Anushka Sharma's Sui Dhaaga?
    • Fear Of Not Getting Work! Neha Dhupia Reveals Why She Hid Her Pregnancy For So Long
    • A Furious Salman Khan Kicks Remo D'Souza Out Of Race 4 After His Denigrate Comments On Race 3?
    • Batti Gul Meter Chalu Movie Review: This Shahid Kapoor Starrer Turns Out To Be A Fused Bulb!
    • Thugs of Hindostan Unveils New Poster Of Katrina Kaif As Suraiyya! View Here
    • Salman Khan's Friends Call Katrina Kaif 'BHABHI', Reveal The Superstar Wanted To MARRY Her But...
    • Deepika Padukone & Ranveer Singh Will Not Marry In 2018, But 2019 It Is! Read Details
    • Taapsee Pannu Trolls People Who Protested The 'Smoking Scene' In Manmarziyaan! View Tweets
    • Where Is Taimur? Inside Pictures From Kareena Kapoor Khan's Midnight Birthday Celebration!
    • Neil Nitin Mukesh & Rukmini Blessed With Baby Girl!
    • Batti Gul Meter Chalu Live Audience Update On The Shahid & Shraddha Kapoor Starrer
    • Katrina Kaif Was SHOCKED! When Neil Nitin Mukesh MISBEHAVED With Shahrukh Khan & Told Him To SHUTUP
    • Manmarziyaan Film-makers Delete 3 Scenes Which Hurt Sikh Sentiments
    • Tiger Shroff To Star With Jackie Chan & Bruce Lee's Daughter Shannon Lee In His Hollywood Debut?
MSP for Paddy Hiked by Rs 200 Per Quintal
Good Returns | 4th Jul, 2018 02:54 PM

The Union Cabinet approved the hike on the minimum support price (MSP) for paddy by a steep Rs 200 per quintal. Headed by Prime Minister Narendra Modi, the cabinet looked to fulfill its poll promise of giving farmers 50 percent more than the cost of production of crops.

The decision comes less than a year before next general election. In 2014, the BJP had promised to give farmers 1.5 times the cost. It was brought into effect in the government's fifth and final annual Budget presented on February 1 this year.

The MSPs of 14 Kharif (summer-sown) crops were approved by the Cabinet Committee on Economic Affairs (CCEA) in its meeting on Wednesday. PTI reported citing sources that the MSP of paddy (common grade) was 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 paddy (common) was Rs 1,550 per quintal and Rs 1,590 per quintal for paddy (grade A) variety. The MSP of cotton (medium staple) has been increased to Rs 5,150 from Rs 4,020 and that of cotton (long staple) to Rs 5,450 from 4,320 per quintal. In pulses, tur MSP has been raised to Rs 5,675 per quintal from Rs 5,450, and 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.

The new hike in paddy's MSP would increase the country's food subsidy bill by over Rs 11,000 crore taking procurement figures of the 2016-17 marketing year (October-September).

MSP is the rate at which the Food Corporation of India (FCI) buys supply from Indian farmers to distribute under the food security act. Paddy is the main Kharif crop and its sowing season has already begun with the onset of southwest monsoon.

It is estimated that India has harvested a record production of food grains at 279.51 million tonnes in the 2017-18 crop year (July-June) on the all-time high output of rice, wheat, coarse cereals, and pulses.

A higher MSP coupled with normal monsoon (as per forecasts), food grain output could boost further and could also fuel food inflation.

   
 
Health and Life
  • Best And Worst Salad Toppings For Weight Loss
  • Happy Birthday Kareena Kapoor! What You Should Know About Her Favourite Superfood - Ghee
  • What You Should Know About Opioid Epidemic?
    • World Alzheimer's Day 2018: How To Improve Your Cognitive Health?
    • What Is Popcorn Lung And What Are Its Symptoms?
    • How Is Delirium Different From Dementia?
      • 8 Reasons Why Almond Flour Is Better Than Other Flours
      • 5 Simple Tips To Wake Up Early In The Morning
      • Is Alzheimer's Disease The Only Cause Of Memory Loss?
        • Alzheimer's Day 2018: Symptoms Of The Disease & Tips To Delay It
        • Why Is Rasgulla Good For Health?
        • Migraine Attack: The Four Phases & Their Symptoms
          • The Abs Diet: 9 Guidelines For Men & Women
          • 5 Amazing Health Benefits Of Brazil Nuts
          • All You Need To Know About Inflammatory Bowel Disease
            • 7 Incredible Health Benefits Of Parmesan Cheese
            • What Is Legionnaires’ Disease And How Do You Get It?
            • 6 Simple Yet Effective Tips To Control Your Hunger