High Kharif output, MSP hikes to give farmers extra Rs 50k cr: CARE Ratings

Kharif crops account for nearly 9 per cent of the total gross value added and contribute nearly 60 per cent of value addition of the agriculture and allied activities sector

With yet another record food production at 301 million tonnes expected on the back of a bumper kharif crop this year, recent MSP hikes can leave the farmers with an additional liquidity of Rs 50,000 crore, according to a report.

The first advance estimates of major kharif crops for 2020-21 have pegged total kharif foodgrain production at 144.52 million tonnes and the overall foodgrain output at 301 million tonnes, CARE Ratings said in the report on Friday.

Kharif crops account for nearly 9 per cent of the total gross value added and contribute nearly 60 per cent of value addition of the