Explanation:

- The Minimum Support Price (MSP) is a form of market intervention by the Government of India to ensure agricultural producers are protected against any sharp fall in farm prices.

- The MSP for paddy, a Kharif crop, is an important factor for farmers as paddy is one of the most widely grown crops in India.

- Option 1: Rs 1,040 per quintal - This is not the correct MSP for paddy for the 2022-23 season.

- Option 2: Rs 940 per quintal - This would be too low for the MSP set in recent years.

- Option 3: Rs 540 per quintal - Again, significantly lower than usual MSP rates.

- Option 4: Rs 3,040 per quintal - This is higher than the historical MSP rates.

- Option 5: Rs 2,040 per quintal - This was indeed the correct MSP for paddy for the 2022-23 Kharif season.