Cabinet approves hike in MSP of kharif crops for 2023-243 min read 07 Jun 2023, 06:05 PM IST
The MSP serves as a crucial safety net for farmers in India, with the government guaranteeing a minimum price for their produce. It also helps ensure food security and stabilizes market prices of staples. The government also uses the MSP to encourage farmers to cultivate certain crops.
New Delhi: The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, on Wednesday approved raising minimum support prices (MSP) of kharif crops for the 2023-24 marketing season.