Government considering raising paddy MSP by Rs 80 for FY18.

The government is considering raising the minimum support price (MSP) of paddy by Rs 80 per quintal to Rs 1,550 for the upcoming 2017-18 crop year starting from July. The ministry has proposed Rs 80 per quintal increase in the paddy MSP for 2017-18 crop year. The suggested MSP for the common grade is Rs 1,550 and that of the ‘A’ grade Rs 1,590. The price increase proposed for paddy, however, is slightly higher than the Rs 60 hike effected during the 2016- 17 crop year. Paddy is grown in both kharif (summer) and rabi (winter) seasons. But much of the paddy output comes from the kharif crop, sowing of which normally begins with the onset of the Southwest Monsoon.