Cabinet hikes MSP for Kharif crops for season 2022-23

The Cabinet has increased Minimum Support Price (MSP) for the Kharif Marketing Season 2022-23 on June 8. The approved prices are in accordance with the principle of keeping the MSPs at a level of at least 1.5 times of the all India weighted average cost of production.

The highest absolute increase in MSP over the previous year has been recommended for Sesamum (Rs 523/quintal), Moong (Rs 480/quintal), and Sunflower seed (Rs 385/quintal).

The MSP of common grade variety of paddy-the main kharif crop- has been increased by Rs 100 to Rs 2,040/quintal for the 2022-23 crop year from Rs 1,940 in the previous year. The support price of 'A' grade variety of paddy has been hiked to Rs 2,060 per quintal from Rs 1,960.


The increased prices will support farmers by providing them with assured remunerative prices.

The move is also meant to give a boost to the government's Atmanirbhar Bharat scheme by reducing dependency on imports and increasing self-sufficiency.

Increasing the prices may also lead to greater investment and production as mentioned in the Cabinet decisions.

The minister also highlighted several programmes launched during the last eight years by the Modi government to boost farmers' income and ensure comprehensive growth of the farm sector.

“Dependence on imports has reduced. Farmers' income has increased. Approved rates are in line with the principle of fixing the MSPs at a level of at least 1.5 times,” said information and broadcasting minister Anurag Thakur.

(With inputs from PTI)