The government today announced Minimum Support Price, MSP, for crops for 2014-15 Kharif season. MSP for Paddy has been raised by 50 ruppes per quintal for common variety and 55 rupees for grade A to encourage farmers to cultivate rice. The new MSP for Paddy stands at 1,360 rupees for common variety and 1400 rupees for grade A. Law and Telecom Minister Ravi Shankar Prasad told reporters after the CCEA meeting that the decision will not have an impact on inflation.

Prasad said the CCEA has accepted the recommendations of the Commission for Agricultural Costs and Prices in toto. For pulses, the CCEA approved a 50 rupees hike in the support price of tur and urad to 4,350 rupees a quintal each, while Moong peice raised by 100 rupees to 4,600 rupees a quintal. Minimum Cotton Price has been increased by 50 rupees per quintal to 3,750 rupees for medium staple, and to 4,050 rupees for long staple. In oilseeds category, the government announced an increase of 50 rupees in the support price of sunflower seed to 3,750 rupees per quintal, besides a 100 rupees hike for sesamum.