Cabinet approves increase in MSP of Kharif crops for marketing season 2021-22 to support farmers

New Delhi [India], June 9 (ANI): In a bid to increase the farmers' income, the Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved an increase in the Minimum Support Prices (MSPs) for all mandated Kharif crops for marketing season 2021-22.
The highest absolute increase in MSP over the previous year has been recommended for sesamum (Rs 452 per quintal) followed by tur and urad (Rs 300 per quintal each).
In the case of groundnut and nigerseed, there has been an increase of Rs 275 per quintal and Rs 235 per quintal, respectively, in comparison to last year. The differential remuneration is aimed at encouraging crop diversification, an official release said.
The increase in MSP for Kharif Crops for marketing season 2021-22 is in line with the Union Budget 2018-19 announcement of fixing the MSPs at a level of at least 1.5 times of the All-India weighted average Cost of Production (CoP), aiming at reasonably fair remuneration for the farmers.
:The expected returns to farmers over their cost of production are estimated to be highest in the case of Bajra (85 per cent) followed by urad (65 per cent) and tur (62 per cent). For rest of the crops, return to farmers over their cost of production is estimated to be at least 50 per cent," it said.
Besides, the Umbrella Scheme 'Pradhan Mantri AnnadataAaySanraksHan Abhiyan' (PM-AASHA) announced by the government in 2018 will aid in providing remunerative return to farmers for their produce. The Umbrella Scheme consists of three sub-schemes -- Price Support Scheme (PSS), Price Deficiency Payment Scheme (PDPS) and Private Procurement and Stockist Scheme (PPSS) on a pilot basis. (ANI)