The Centre has set the minimum support price (MSP) for paddy sown in the kharif or monsoon season at ₹2,183 per quintal, an increase of ₹143 a quintal from last year’s figure.

The 2023-24 MSPs for 17 kharif crops and variants were approved at a meeting of the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi.

The sowing of crops, mainly paddy, has started in most States. While the Centre said that its aim was to ensure reasonably fair remuneration for the farmers and encourage crop diversification, several farmers’ organisations said the increase would not cover the rising input costs.

Food Minister Piyush Goyal told presspersons after the CCEA meeting that farmers would benefit from the MSP increase at a time when retail inflation was declining.