The Government approved on 1 June the increase of the Minimum Support Price (MSP) of the 2016 Kharif crops, about to be planted. The MSP for common (non-basmati) rice, the main Kharif crop, was increased by INR 60 or 4.3 percent from the previous season, to INR 1 470 rupees (USD 21.9) per quintal. The MSP of maize was increased by 3 percent. MSPs for pulses and oilseeds were also raised substantially. The MSPs are the prices at which the federal government buys food grains from farmers, with the aim to boost domestic production and ensure remunerative prices to farmers.