Q1. With reference to the decision of the Cabinet Committee on Economic Affairs (CCEA) on 13 May 2026 regarding Minimum Support Prices (MSPs) for Kharif Crops for Marketing Season 2026-27, consider the following statements: 1. The MSP for Common Paddy was hiked by Rs 72 per quintal to Rs 2,441 per quintal. 2. Among all the approved crops, the steepest absolute increase in MSP in rupee terms was announced for Cotton. Which of the statements given above is/are correct?
Explanation
Only statement 1 is correct. On 13 May 2026, the CCEA approved higher MSPs for 14 Kharif Crops for Marketing Season 2026-27. The MSP for Common Paddy was indeed hiked by Rs 72 to Rs 2,441 per quintal, making statement 1 correct. However, statement 2 is incorrect because the steepest absolute hike of Rs 622 per quintal was announced for Sunflower Seed, not for Cotton. The hike aims to ensure remunerative prices to farmers and encourage crop diversification.