Government raises MSP for kharif crops, paddy’s hiked by 7%

The government on Wednesday approved an increase in the minimum support price (MSP) of all 14 mandated kharif (summer sown) crops for 2023-24 with paddy, the most popular one in terms of acreage and output, hiked by 7% (Rs 143 per quintal). The MSP for key pulses like moong (green gram) and oilseeds such as sesamum and groundnut were hiked over 10% in a signal to farmers to diversify to not only increase their returns but also reduce India’s dependence on imports to meet domestic requirements.

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