Centre Approves MSP Increase on 14 Kharif Crops, Ensures 1.5 Times Production Cost

MSP NEWS: The Union Cabinet, led by Prime Minister Narendra Modi, has sanctioned a significant increase in Minimum Support Prices for 14 Kharif crops, underscoring the government’s commitment to ensuring farmers receive fair compensation for their produce. The move, aimed at bolstering agricultural sustainability and farmer welfare, aligns with the government’s pledge to uphold MSP at least 1.5 times the production cost.

Government Approves MSP Boost on 14 Kharif Crops, Ensuring 1.5 Times Production Cost

Union Information and Broadcasting Minister Ashwini Vaishnaw emphasized the government’s steadfast dedication to this policy, a stance initially laid out in the 2018 Budget. “Every crop will have at least 50 per cent more Minimum Support Prices compared to the cost this time,” he stated, reaffirming the government’s proactive approach to supporting the agricultural sector.

Explore the impact of the government’s MSP initiative on agricultural sustainability.

According to the Agriculture Ministry’s release, the highest Minimum Support Prices increase has been recommended for oilseeds and pulses. Notably, the Minimum Support Prices for nigerseed sees a substantial rise of Rs 983 per quintal, followed by sesamum with an increase of Rs 632 per quintal, and Arhar dal with a rise of Rs 550 per quintal.

The MSP adjustments are reflective of the government’s commitment to addressing the needs of farmers across various agricultural segments. For instance, the Minimum Support Prices on Nigerseed has been elevated to Rs 8,717 from Rs 5,811, Sesamum to Rs 9,267 from Rs 6,178, and Arhar dal to Rs 7,550 from Rs 4,761.

Read More: Did the farmer leaders know about the real farmer problems or were the real farmers fooled?

Moreover, the MSP for Paddy has been increased to Rs 2,300 from Rs 1,533, while Jowar witnesses a rise to Rs 3,371 from Rs 2,247, further underscoring the government’s comprehensive approach to supporting diverse agricultural practices.

This decision comes as a boon for farmers, particularly in Haryana, as they grapple with various challenges including input costs, market fluctuations, and climatic uncertainties. By ensuring a robust MSP mechanism, the government aims to empower farmers and fortify the agricultural backbone of the nation.

The implementation of enhanced MSPs for Kharif crops reaffirms the government’s unwavering commitment to agricultural prosperity and farmer welfare, paving the way for a more resilient and sustainable agricultural ecosystem in Haryana and beyond.