India Likely To Retain Current MSP For Paddy

The Indian Prime Minister's Economic Advisory Council has advised the government against raising the minimum support price for common variety paddy from its current levels to Rs. 1,000 a quintal, as suggested by Commission for Agricultural Costs and Prices, for the current season.

The EAC, which has submitted its recommendations to the Cabinet, wanted the government to retain the MSP at Rs. 850 a quintal, as there is no point in raising the support price as sowing is already on during the current kharif season.