Centre to announce new MSP of paddy, maize, summer sown pulses and other Kharif crops tomorrow

Centre to announce new MSP of paddy, maize, summer sown pulses and other Kharif crops tomorrow

NEW DELHI: The Centre will on Wednesday announce new Minimum Support Price (MSP) of all Kharif (summer-sown) crops for the 2018-19 marketing season. As announced by the government in its budget, the Union Cabinet is expected to bring the MSP of these crops to a level which will provide farmers a profit of minimum 50% over the cost of production. The MSP of a common variety of paddy is expected to be increased from Rs 1,550 per quintal to Rs 1,750 per quintal - highest ever hike in a single year.
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