New Delhi: Union cabinet on Wednesday cleared a hike of Rs 200 in the Minimum Support Price (MSP) of paddy. The Centre today raised the MSP of the common variety of paddy from the current Rs 1,550 per quintal to Rs 1,750 per quintal.
The move by the Narendra Modi-led government comes ahead of crucial polls this year in states like Madhya Pradesh and Chhattisgarh and the Lok Sabha elections due in 2019.
With a 50 per cent more profit for farmers, the Bharatiya Janata Party hopes to position itself as a pro-farmer party as this is the highest hike ever in a single year for paddy.
Prime Minister Narendra Modi on Tuesday met agriculture minister Radha Mohan Singh and other officials of Niti Aayog to provide the final shape to a long-promised move of the BJP that it hopes will correct the party’s standing among the large farming community in the country.
Even the meeting that was held Tuesday evening drew the fine print of a hike in MSP of paddy and several other Kharif crops that the cabinet cleared today.