The Central government hiked the paddy minimum support price (MSP) by Rs 100 to Rs 2,040 per quintal for the crop year 2022-23 on Wednesday.

Prime Minister Narendra Modi's Cabinet Committee on Economic Affairs (CCEA) recommended a hike in MSP for all mandatory Kharif (summer) crops for the 2022-23 crop year.  "The MSP of 14 kharif crops was approved in today's cabinet meeting," Information and Broadcasting Minister Anurag Thakur told reporters.

The MSP for common grade paddy has been hiked to Rs 2,040 per quintal for the crop year 2022-23, up from Rs 1,940 last year.

The support price for 'A' quality paddy has been increased from Rs 1,960 to Rs 2,060 per quintal. The main kharif crop is paddy, which has already begun to be sown. The monsoon season is expected to be normal from June through September, according to the National Weather Service.

Several programmes are undertaken by the Modi government over the previous eight years to enhance farmers' income and assure the farm sector's overall growth were also emphasised by the minister.

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