New Delhi

Cabinet Committee on Economic Affairs on Wednesday approved an increase in the minimum support price (MSP) for paddy for the 2026–27 kharif marketing season.

The committee, chaired by Prime Minister Narendra Modi, raised the MSP of paddy by Rs 72 per quintal.

Under the revised rates:

• Common paddy: Rs 2,441 per quintal
• A-grade paddy: Rs 2,461 per quintal

The announcement was made by Ashwini Vaishnaw, who said the MSP has been fixed at 50 per cent above the cost of production.

According to the government, the estimated payout to farmers under procurement is expected to reach Rs 2.60 lakh crore, with annual procurement projected at 824.41 lakh tonnes.

The revised MSP will apply to the 2026–27 kharif marketing season, which typically begins in September–October.