ANNOUNCEMENT 04 Jul 2018
The prices under a price support programme of the Indian government have been increased for crops sown in the monsoon season of the year 2018-19.
NUMBER OF INTERVENTIONS
Official press release - 4 July 2018
Times of India - Cabinet approves steep Rs 200 per quintal hike in MSP for paddy
Business Today - Govt hikes paddy MSP by Rs 200 per quintal
The Telegraph - Govt increases paddy MSP by a record Rs 200 a quintal, other crops also gain
On 4 July 2018, the Indian Cabinet Committee on Economic Affairs approved an increased in the Minimum Support Price (MSP) for several Kharif crops for the 2018-19 season. Kharif is the monsoon cropping season starting in July and ending in October.
According to several news reports, the higher MSP will increase the aggregate food subsidy by INR 11,000-15,000 crore.(USD 1.6 to USD 2.2 billion).
* INR to USD conversion as on 4 July 2018 - INR 68.69 / USD.