The decision in this regard was taken by the Cabinet Committee on Economic Affairs (CCEA) yesterday.
The Centre today announced a hike in the support price of paddy marginally by Rs60 to Rs1,310 per quintal for the 2013-14 crop year, but the prices of some pulses and oilseeds were increased substantially by up to Rs450 per quintal to boost output and reduce import dependence.
The decision in this regard was taken by the Cabinet Committee on Economic Affairs (CCEA) yesterday.
Briefing the media about the minimum support price (MSP) of 14 agricultural items for 2013-14 crop year (July-June), Finance Minister P Chidambaram said: "Except for two items, we have accepted the CACP proposal. In case of bajra and tur, we have improved upon the recommendations of the Commission for Agriculture Costs and Prices (CACP)."
While MSP for common paddy has been raised to Rs 1,310 from Rs 1,250 per quintal, the support price of grade 'A' variety of paddy has been hiked by Rs 65 to Rs 1,345/quintal.
Sowing of paddy, the main kharif crop, begins with the onset of monsoon in June and harvesting starts in October.
The normal monsoon forecast by the Met Department for this year, coupled with hike in MSP, is expected to boost paddy area and productivity.
CCEA has also approved Rs 100 hike in cotton MSP to Rs 3,700 per quintal (medium staple) and Rs 4,000 per quintal (long staple).
In pulses category, the MSP of tur has been raised by Rs450 to Rs4,300 per quintal, while that of moong by Rs100 to Rs4,500 per quintal. However, the support price of urad has been retained at last year's level at Rs 4,300 per quintal.
In the oilseeds category, CCEA has approved a hike of Rs300 in the MSP of soyabean (black) to Rs2,500 a quintal; Rs320 rise in MSP of soyabean (yellow) to Rs2,560 per quintal.
The MSP of sesamum seeds increased by Rs300 per quintal at Rs4,500. The support prices of sunflower seed and niger seed have been kept unchanged at Rs3,700 per quintal and Rs3,500 per quintal, respectively.
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