New Delhi : The Cabinet Committee on Economic Affairs (CCEA) is likely to approve a proposal to raise the minimum support price (MSP) of paddy by Rs 50 to Rs 1,410 per quintal for this year today. MSP is the rate at which government buys the grain from farmers, reports PTI.
“The proposal on MSP of kharif (summer) crops is listed on the agenda for discussion,” Agriculture Secretary Siraj Hussain told PTI.
The Agriculture Ministry has moved a CCEA note on MSP of various crops for the 2015-16 kharif season taking into account the recommendations of the Commission for Agricultural Costs and Prices (CACP), a government advisory body.
According to sources, CACP has recommended a modest increase of Rs 50 per quintal to Rs 1,410 in the MSP for paddy farmers for the 2015-16 kharif season.
It has also suggested a hike of Rs 100 per quintal in the support price of ragi to Rs 1,650 and Rs 30 per quintal for groundnut MSP to Rs 4,030.