The Union Cabinet has approved a 5.35% increase in the minimum support price (MSP) for paddy, raising it by ₹117 to ₹2,300 per quintal. The MSP for "A" Grade Paddy has also been increased by ₹117 to ₹2,320 per quintal for the 2024-25 kharif marketing season, ensuring farmers a 50% profit margin. This decision comes despite the government's existing surplus rice stock, which is four times the required buffer. Similarly, the MSP for maize (Corn) has been increased by 6.45% or ₹135 to ₹2,225 per quintal.