June 15, 2012 3:35:16 am
In a major decision,the government on Thursday revised the minimum support price (MSP) for the paddy crop by over 15 per cent from Rs 1,080 a quintal to Rs 1,250 per quintal of common variety of paddy. The government also announced substantial hike in the MSP for other kharif crops like pulses,oilseeds and cotton.
The MSP of Paddy (Common) has been fixed at Rs 1,250 per quintal and of Paddy (Grade A) at Rs 1,280 per quintal,which represents an increase of Rs 170 per quintal over the last years MSPs, said a press communique issued by the government after the meeting of the Cabinet Committee on Economic Affairs (CCEA).
The CCEA also approved over 30 per cent hike in the MSP of Urad from Rs 3,300 per quintal to Rs 4,300 a quintal.
As for the oilseeds,the meeting chaired by PM Manmohan Singh,also approved substantial hike in the MSPs of groundnut-in-shell (up by Rs 1000 a quintal),at Rs 3,700.
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