In Kharif Season 2022-23, MSP Of Rs 159,659.59 Cr Paid For Paddy

In current Kharif Marketing Season (KMS) MSP payment of Rs 159,659.59 crore paid which benefited 1,12,96,159 farmers. Food Corporation Of India (FCI), the nodal central agency of Government of India, along with other state agencies undertakes procurement of paddy under price support scheme. The procurement operations are majorly carried out by state governments and its agencies.
The Government policy of procurement of paddy has broad objectives of ensuring MSP to the farmers and availability of food to the weaker sections at affordable prices. It also ensures effective market intervention thereby keeping the prices under check, also adding to the overall food security of the country.
Before the harvest, during each Rabi / Kharif Crop season, the Government of India declares the minimum support prices (MSP) for procurement on the basis of the recommendation of the Commission of Agricultural Costs and Prices (CACP) which along with other factors, takes into consideration the cost of various agricultural inputs and the reasonable margin for the farmers for their produce. MSP (Minimum Support Price) operations are given wide publicity through pamphlets, banners, sign boards, radio, TV and advertisements through print and electronic media.