The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved an increase in the Minimum Support Price (MSP) for 14 Kharif crops, ensuring that the MSP is at least 1.5 times the production cost. This decision aligns with the policy established in the 2018 Budget to guarantee farmers a minimum of 50% more than their production costs.
Union Information and Broadcasting Minister Ashwini Vaishnaw announced that this move will provide farmers with approximately Rs 2 lakh crore as MSP, which is an increase of Rs 35,000 crore from the previous season.
According to the Agriculture Ministry, the most significant increases in MSP are for oilseeds and pulses. Notably:
- Nigerseed: MSP increased by Rs 983 per quintal, from Rs 5,811 to Rs 8,717.
- Sesamum: MSP increased by Rs 632 per quintal, from Rs 6,178 to Rs 9,267.
- Arhar dal (Tur dal): MSP increased by Rs 550 per quintal, from Rs 4,761 to Rs 7,550.
Other significant MSP increases include:
- Paddy: MSP increased by Rs 767 per quintal, from Rs 1,533 to Rs 2,300.
- Jowar: MSP increased by Rs 1,124 per quintal, from Rs 2,247 to Rs 3,371.
This decision aims to support farmers by ensuring higher returns and incentivizing the cultivation of these Kharif crops.
