New Delhi: In a bid to fulfil poll promise to increase farmers' income, the Union cabinet today hiked the Minimum Support Price (MSP) for paddy by Rs 200 per quintal just a year before next general elections.

The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi approved the increase in the MSPs for all kharif crops for 2018-19 Season to provide farmers a profit of 50 per cent over the cost of production.

Addressing the media, Union Minister Rajnath Singh said the cabinet had taken the "historic" decision to give MSP of 1.5 times on the input cost to farmers, which will be a "big boost" to the economy.

The MSPs for all kharif crops of 2018-19 season have been increased as follows: (Rs/quintal)

Commodity Variety MSP for 2017-18 Season MSP approved for 2018-19 Season Increase Return*over cost in percent
Absolute

Absolute

 Percentage
Paddy Common 1550 1750 200 12.90 50.09
Grade A

Grade A

 1590 1770 180 11.32 51.80
Jowar Hybrid 1700 2430 730 42.94 50.09
Maldandi

Maldandi

 1725 2450 725 42.03 51.33
Bajra - 1425 1950 525 36.84 96.97
Ragi - 1900 2897 997 52.47 50.01
Maize - 1425 1700 275 19.30 50.31
Arhar(Tur) - 5450 5675 225 4.13 65.36
Moong - 5575 6975 1400 25.11 50.00
Urad - 5400 5600 200 3.70 62.89
Groundnut - 4450 4890 440 9.89 50.00
Sunflower Seed - 4100 5388 1288 31.42 50.01
Soyabean - 3050 3399 349 11.44 50.01
Sesamum - 5300 6249 949 17.91 50.01
Nigerseed - 4050 5877 1827 45.11 50.01
Cotton Medium Staple 4020 5150 1130 28.11 50.01
Long Staple 4320 5450 1130 26.16 58.75