Updated By: LatestGKGS Desk
Minimum Support Price (MSP) List of Kharif Crops 2018-19, Impact on GDP
Union Home Minister, Rajnath Singh releases new rate list Minimum Support Price (MSP) for Kharif crops
Minimum Support Price for paddy is now INR 1750 per Quintal which is Rs 200 more than the previous MSP while Grade A paddy has got a revised increase of Rs 160/- for its MSP.
This is the biggest ever increase in the MSP of Kharif crops over last 10 years. Union Cabinet step to increase in the MSP ensures 50% increase in the costing of crop production for farmers.
The list of Increase in MSP of the Kharif crops as follows -
Paddy new MSP is Rs 1750/- per quintal
Ragi new MSP is Rs 2897/- per quintal
Corn new MSP is Rs 1700/- per quintal
Mung new MSP is Rs 6975/- per quintal
Urad new MSP is Rs Rs 5600/- per quintal
Bajra new MSP is Rs 1950/- per quintal
Kapas(medium thread) new MSP is Rs 5150/- per 100Kg
Kapas(long thread) new MSP is Rs 5450/- per 100Kg
The latest increase in Kharif crop will impose an extra burden of Rs 33,500 Crores. Paddy will contribute around Rs 12,300 Crores in this extra burden on government expenditures. The gross increase in the MSP is around 0.2% of the Gross Domestic Product (GDP) of India.
