Modi government's gift to farmers, MSP approved for 14 Kharif crops

Farmers are the priority of the central government. The Union Cabinet made an important decision on Wednesday, increasing the minimum support price (MSP) on 14 Kharif crops. The third NDA government led by Prime Minister Narendra Modi had released more than Rs 3 lakh crore of its first decision PM Kisan Samman Nidhi a day earlier. It also includes crops like paddy, cotton, and pulses.

Every year, the government determines the MSP to ensure that farmers receive a fair price for their produce. The new MSP rates for 2024-25 have been revealed. Following Wednesday's cabinet meeting, Union Information and Broadcasting Minister Ashwini Vaishnav announced that the MSP for paddy has been hiked by Rs 117 per quintal. Farmers may now sell their paddy at Rs 2300 per quintal. The new MSP will cost two lakh crore rupees.

This will be Rs 35 thousand crore higher than the previous agricultural season. During Modi's tenure, more procurement was done on every crop than from 2004 to 2014. Concerned about produce safety, the government has decided to construct two lakh additional panchayat-level warehouses. Vaishnav said that the highest increase in MSP has been recommended for oilseeds and pulses as compared to last year. The MSP of paddy crops has been increased by Rs 117.

The new MSP of cotton will be Rs 7,121. The MSP of another variety of it will be Rs 7,521. This is Rs 501 more than before. Sesame has been fixed at Rs 632 per quintal and tur dal at Rs 550 per quintal. MSP is the fixed price which is approximately one and a half times more than the cost of the produce to the farmers. On the recommendation of the Commission for Agricultural Cost and Prices, both the Central and State Governments decide it after discussion. Currently, a total of 23 crops have been included in the scope of MSP.