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The Central Government on Wednesday announced a new Minimum Support Price (MSP) for 17 crops. After which the cultivation of oilseeds and pulses crops is seen as a profitable deal for the farmers.
The Central Government has taken a big decision on Wednesday in the interest of the farmers of the country. On Wednesday, the Narendra Modi government at the Center has increased the Minimum Support Price (MSP) of crops. Under which the decision to increase the MSP of crops has been taken in the meeting of the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi. After this, the prices of crops have been fixed afresh across the country. It is believed that only after the increase in the MSP of the crops, the farmers will make a new plan for the cultivation of crops. Overall, after the announcement of MSP, the cultivation of oilseeds and pulses is going to be beneficial for the farmers of the country. Let us know what is the math behind this and how much MSP of whose crop has increased.
Sesame and moong prices increased the most
The Narendra Modi government at the Center has increased the MSP of a total of 17 crops on Wednesday. In which 14 are Kharif season crops, while three are Kharif season crops. In this list of 17 crops, sesame and moong have the highest increase in MSP. For example, under the announcement of the central government, the price of sesame has been increased by Rs 523 per quintal. While the price of moong has been increased by Rs 480 per quintal. After the announcement of the government, now the MSP of sesame has become Rs 7830 per quintal. So the MSP of moong has become Rs 7755 per quintal. At the same time, the MSP of millet has been increased by Rs 100 per quintal. After this, the price of millet has gone up to Rs 2350 per quintal.
Increase in MSP of crops from Rs 92 to Rs 523
Under the chairmanship of Prime Minister Narendra Modi (Cabinet Committee on Economic Affairs, the MSP of crops has been increased. Under which the MSP of crops has been increased from Rs 92 to Rs 523. The new and old rates of MSP can be seen on the chart below .
Crop | MSP (2021-22) | MSP (2022-23) |
paddy general | 1940 | 2040 |
Paddy Grade A | 1960 | 2060 |
Jowar (Hybrid) | 2738 | 2970 |
Jowar (Maldandi) | 2758 | 2990 |
Millet | 2250 | 2350 |
ragi | 3377 | 3578 |
Maize | 1870 | 1962 |
Toor | 6300 | 6600 |
moong | 7275 | 7755 |
urad | 6300 | 6600 |
Groundnut | 5550 | 5850 |
sunflower seeds | 6015 | 6400 |
soybeans (yellow) | 3950 | 4300 |
Mole | 7307 | 7830 |
Ramtil | 6930 | 7287 |
Cotton (Madhyamaresh) | 5726 | 6080 |
cotton long fiber | 6025 | 6380 |
The maximum profit of 85 percent on the cost of millet
According to the central government, the formula for fixing the MSP has been decided on the basis of the calculation of profit over the cost of the crop. Under which the MSP of crops has been fixed on the basis of minimum 50 percent profit on cost. According to the central government, the highest profit in this list is on the MSP of 85 percent millet. While the new MSP has been fixed with a profit of 60 percent on tur and 59 percent on urad. Similarly, the new MSP of Surajbean has been fixed at 56 per cent of the cost and MSP of Soyabean at 51 per cent of the cost.
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