Q1. Consider the following statements regarding the Minimum Support Prices (MSP) for Kharif crops for Marketing Season 2026-27 approved on 13 May 2026: 1. The Cabinet Committee on Economic Affairs approved higher MSPs for 14 Kharif crops. 2. Common paddy MSP was hiked by Rs 72 to Rs 2,441 per quintal. 3. The steepest absolute hike of Rs 622 per quintal was given for cotton. Which of the statements given above is/are correct?
Explanation
Statements 1 and 2 are correct. The CCEA on 13 May 2026 approved higher MSPs for 14 Kharif crops, with common paddy hiked by Rs 72 to Rs 2,441 per quintal. Statement 3 is incorrect because the steepest absolute hike of Rs 622 per quintal was given for sunflower seed, not cotton. The MSP regime aims to ensure remunerative prices to farmers and boost agricultural production.
