Cabinet approves increase in MSP for various Kharif crops

The Cabinet Committee on Economic Affairs, CCEA yesterday approved increase in Minimum Support Price for all intended Kharif crops for Marketing Season 2022-23. Briefing media in New Delhi, Information and Broadcasting Minister Anurag Singh Thakur said, the approved rates are at least 1.5 times of the all India weighted average cost of production.

He said, the highest absolute increase in MSP over previous year has been recommended for Sesamum 523 rupees per quintal, Moong 480 rupees per quintal, Sunflower seed 385 rupees per quintal, Tur, Urad and Groundnut 300 rupees per quintal, Cotton (Medium Staple) 354 rupees and Cotton (Long Staple) 355 rupees.

The Minister said, it will lead to greater investment and production. It will also provide assured remunerative prices for the farmers and will help in achieving the goal of Aatmanirbhar Bharat.



He said, it will lead to self-sufficiency and reduce dependency on imports.

Prime Minister Narendra Modi said that the government has taken an important decision in the interest of farmers who are dedicated to the service of the country. In a tweet, Mr Modi said, the decision to increase the MSP for Kharif crops will empower crores of farmers of the country.

 

The Cabinet also approved the transfer of 10 in-orbit communication satellites from the Government of India to M/s. New Space India Limited, NSIL, a wholly-owned Public Sector Enterprise of the Centre under the administrative control of the Department of Space.

The Cabinet has also approved increasing the authorized share capital of NSIL from one thousand crore rupees to seven thousand 500 crore rupees.