The Cabinet Committee on Economic Affairs (CCEA) chaired by the Prime Minister Shri Narendra Modi on June 1, 2020 approved the increase in the Minimum Support Prices (MSPs) for all mandated 14 Kharif crops for marketing season 2020-21.
- Government has increased the MSP of Kharif crops for marketing season 2020-21, to ensure remunerative prices to the growers for their produce. The Minimum Support Prices (MSP) for 14 Kharif crops will be increased upto 83 per cent, to ensure better returns for their farm produce.
- The highest increase in MSP is proposed for nigerseed (Rs 755 per quintal) followed by sesamum (Rs 370 per quintal), urad (Rs 300 per quintal) and cotton (long staple) (Rs 275 per quintal). The differential remuneration is aimed at encouraging crop diversification.
- The government hiked MSP for paddy by 53 rupees per quintal to 1868 rupees per quintal while the MSP for cotton has been increased by 260 rupees to five thousand 515 rupees per quintal for the current crop year.
- For cotton, the MSP has been increased by Rs 260 to Rs. 5,515 per quintal.
- The support prices of arhar or tur, a type of lentil, has been fixed at Rs. 6,000, which represents a 58% return over cost of cultivation. This is an increase of Rs. 300.
