Govt Approves MSP Hike For 14 Kharif Crops, Including Paddy, Assures Rs 2 Lakh Crore Benefit For Farmers
The Union Cabinet on Wednesday approved the Minimum Support Price (MSP) for 14 Kharif season crops, including paddy, ragi, bajra, jowar, maize, and cotton. This decision is set to have a financial implication of Rs 2 lakh crore for the government and will result in an additional Rs 35,000 crore gain for farmers over the previous year. Addressing the media following the cabinet meeting, Union Information and Broadcasting Minister Ashwini Vaishnaw emphasised the significance of Prime Minister Narendra Modi’s third term, describing it as a period focused on “continuity with change” and various decisions aimed at farmer welfare.
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Farmers To Receive Around Rs 2 Lakh Crore As MSP, Rs 35,000 Crore More Than Previous Season: Ashwini Vaishnaw
“The two terms of the Modi government have laid a strong foundation for economic growth, and significant decisions will be taken in the third term for the benefit of people,” Vaishnaw stated. “The Cabinet has approved Minimum Support Price (MSP) on 14 Kharif season crops including paddy, ragi, bajra, jowar, maize, and cotton. With today’s decision, the farmers will receive around Rs 2 lakh crore as MSP, which is Rs 35,000 crore more than the previous season.”
#WATCH | On Union Cabinet decision on MSP for Kharif season crops, Information & Broadcasting Minister Ashwini Vaishnaw says, “With today’s decision, the farmers will get around Rs 2 lakh crores as MSP. This is Rs 35,000 crores more than the previous season.” pic.twitter.com/cUjJIqpzJ1
— ANI (@ANI) June 19, 2024
The minister further affirmed the government’s commitment to ensuring farmers receive prices 50 per cent higher than their input costs, noting that the highest absolute increase in MSP over the previous year has been recommended for oilseeds and pulses.
This comes after Prime Minister Narendra Modi, after being sworn in for his third term, signed his first file authorising the release of the 17th instalment of the PM Kisan Nidhi. At an event in Varanasi on Tuesday, PM Modi released this instalment, amounting to over Rs 20,000 crore, to approximately 9.26 crore beneficiary farmers under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) through Direct Benefit Transfer.
