Question
MSP is a form of market intervention by the Government
of India to insure agricultural producers against any sharp fall in farm prices. MSP is announced twice a year by the government for 22 crops. How much is the MSP for paddy (common) for the 2024-2025 kharif marketing season?Solution
The minimum support price (MSP) for paddy in India for the 2024-2025 kharif marketing season is Rs 2,300 per quintal for common paddy and Rs 2,320 per quintal for Grade A paddy. This is an increase from the MSP for paddy in 2020-2021, which was Rs 1,868 for common paddy and Rs 1,888 for Grade A paddy.
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