• News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
BW Businessworld

Centre Hikes MSP For Kharif Crops For Marketing Season 2023-24

MSP for paddy (common variety) has been hiked from Rs 2,040 per 100 kg to Rs 2,183

Photo Credit : ANI News


The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on Wednesday approved the increase in minimum support price (MSP) for kharif crops for the 2023-24 season.

MSP for paddy (common variety) has been hiked from Rs 2,040 per 100 kg to Rs 2,183. For the grade A variety, it was hiked from Rs 2,060 to Rs 2,203. For millets such as bajra and ragi, the MSP has been hiked from Rs 2,350 to Rs 2,500; and Rs 3,578 to Rs 3,846.

For pulses tur, moong, and urad, the MSP was hiked Rs 6,600 to Rs 7,000; Rs 7,755 to Rs 8,558, Rs 6,600 to Rs 6,950. India has three cropping seasons- summer, kharif and rabi. 

Crops sown from June to July and harvested from October to November are kharif.

The government believes the rise in prices will encourage crop diversification. 

Addressing a press conference, Union Food and Public Distribution Minister Piyush Goyal reiterated total food grain production for the agricultural year 2022-23 is projected at 330.5 million tonnes.

As per third advance estimates for 2022-23, total food grain production in the country is estimated at record 330.5 million tonnes, which is higher by 14.9 million tonnes as compared to the previous year 2021-22. 

This is the highest increase in the last five years.