Cabinet okays MSP for 14 crops, farmers to get Rs 35,000 crore more over previous season

PTC Web Desk: The Union Cabinet set the minimum support price (MSP) for 14 Kharif season crops, including paddy, ragi, bajra, jowar, maize, and cotton, which will cost the government Rs 2 lakh crore and benefit farmers by Rs 35,000 crore over the previous season.

Addressing the media following a union cabinet meeting, Information and Broadcasting Minister Ashwini Vaishnaw stated that PM Modi's third term is important since it focuses on continuity and transformation through numerous initiatives for farmers' welfare.

He stated that the Modi government's first two terms had established a solid foundation for economic progress, and that key decisions would be made in the third term to serve the people.  

"The Cabinet approved the Minimum Support Price (MSP) for 14 Kharif season crops, including paddy, ragi, bajra, jowar, maize, and cotton. With today's decision, farmers will receive over Rs lakh crores as MSP. This is Rs 35,000 crores more than the previous season," he said. 

The minister stated that the government is dedicated to provide farmers with a price that is 50% more than the input cost, and that the decisions were made to that end.

The highest absolute rise in MSP over the previous year has been recommended for oilseeds and pulses.