The Cabinet Committee on Economic Affairs has approved increase in Minimum Support Price for all intended Kharif crops for Marketing Season 2022-23.

Briefing media in New Delhi yesterday, Information and Broadcasting Minister Anurag Singh Thakur said, the approved rates are at least one and half times of the all India weighted average cost of production.

He said, the highest absolute increase in MSP over the previous year has been recommended for Sesamum 523 rupees per quintal, Moong 480 rupees per quintal, Sunflower seed 385 rupees per quintal, Tur, Urad and Groundnut 300 rupees per quintal, Cotton (Medium Staple) 354 rupees and Cotton (Long Staple) 355 rupees.

The Minister said, it will lead to greater investment and production. It will also provide assured remunerative prices for the farmers and will help in achieving the goal of Aatmanirbhar Bharat.