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Cabinet Approves MSP for 14 Kharif Season Crops, Farmers to Get Rs 35,000 Crore More Over Previous Season

The Union Cabinet under Prime Minister Narendra Modi’s leadership has made significant announcements aimed at bolstering agricultural support and welfare measures for farmers across India. Here are the key highlights: 1. Minimum Support Price (MSP) Announcement: – The Union Cabinet approved MSPs for 14 Kharif season crops, which include staples like paddy, ragi, bajra, jowar, […]

Cabinet Approves MSP for 14 Kharif Season Crops, Farmers to Get Rs 35,000 Crore More Over Previous Season
Cabinet Approves MSP for 14 Kharif Season Crops, Farmers to Get Rs 35,000 Crore More Over Previous Season

The Union Cabinet under Prime Minister Narendra Modi’s leadership has made significant announcements aimed at bolstering agricultural support and welfare measures for farmers across India. Here are the key highlights:

1. Minimum Support Price (MSP) Announcement:
– The Union Cabinet approved MSPs for 14 Kharif season crops, which include staples like paddy, ragi, bajra, jowar, maize, and cotton.
– This decision is expected to have a financial implication of Rs 2 lakh crore for the government.
– Farmers are projected to gain around Rs 35,000 crore more compared to the previous season, demonstrating a substantial increase in MSP rates.

2. Objective of MSP Implementation:
– The government remains committed to ensuring that farmers receive a price for their produce that is at least 50% more than the input costs.
– This decision aligns with the ongoing efforts to support farmers and improve their economic well-being.

3. Focus on Oilseeds and Pulses:
– The MSPs for oilseeds and pulses have seen the highest absolute increase compared to the previous year, indicating targeted support for these critical crops.

4. Continuity and Change in Governance:
– Information and Broadcasting Minister Ashwini Vaishnaw emphasized that the decisions taken under PM Modi’s third term focus on continuity with change.
– This approach aims to build upon the economic foundations laid in the previous terms while introducing significant new measures for the benefit of farmers and the broader population.

5. PM-KISAN Initiative:
– Recently, PM Modi authorized the release of the 17th instalment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme.
– This initiative disbursed more than Rs 20,000 crore to approximately 9.26 crore beneficiary farmers across the country through Direct Benefit Transfer (DBT).
– The PM-KISAN scheme continues to play a crucial role in providing direct financial assistance to farmers, further illustrating the government’s commitment to farmer welfare.

In conclusion, these measures underscore the government’s proactive stance towards supporting agriculture and ensuring equitable benefits for farmers, reflecting its broader commitment to rural development and economic growth.

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MSPPM ModiTDGThe Daily GuardianUnion Cabinet