Centre hikes MSP for 14 crops, paddy up Rs 117
Neeraj Mohan
New Delhi, June 19
In another attempt towards solidarity with the farming community, the PM Modi-led Cabinet, in its first meeting of the third term, announced a considerable hike in the minimum support price (MSP) for 14 kharif corps for the 2024-25 marketing season.
At a press briefing, Union Information and Broadcasting Minister Ashwini Vaishnaw announced that the MSP for ‘common’ grade paddy had been raised by Rs 117 to Rs 2,300 per quintal, while for the ‘A’ grade variety, it had been increased to Rs 2,320 per quintal. The increase aligns with the Union Budget 2018-19 announcements, which had set the MSP at a minimum of 1.5 times the all-India weighted average cost of production.
Providing the details, Vaishnaw said the highest absolute increase in the MSP over the previous year had been recommended for oilseeds and pulses. An amount of Rs 983 per quintal increase has been announced in the MSP of niger seed, followed by Rs 632 of sesamum and Rs 550 per quintal of tur/arhar. According to the minister, the expected profit margin for farmers was estimated to be highest for bajra (77%), followed by tur (59%), maize (54%), and urad (52%).
He said the MSP hike would put an extra burden of Rs 35,000 crore with the total financial implication of Rs 2 lakh crore.
The increase in the support price for paddy assumes major political significance as it has been announced ahead of the Assembly elections in Haryana, Maharashtra, Jharkhand and Delhi.
“Our government is continuously taking significant steps for the welfare of our farmers across the country. In this direction, today the Cabinet has approved an increase in the MSP for all major kharif crops,” Prime Minister Narendra Modi posted on X.
In other decisions, the Cabinet approved setting up of Rs 76,200-crore major port at Vadhavan near Dahanu in Maharastra. It also okayed the viability gap funding scheme for the offshore wind energy projects at a total outlay of Rs 7,453 crore.
The proposal of the Ministry of Home Affairs for the National Forensic Infrastructure Enhancement Scheme was also approved. Its total outlay is Rs 2,254.43 crore from 2024-25 to 2028-29.
The scheme underscores the importance of high quality, trained forensic professionals in timely and scientific examination of evidence for an efficient criminal justice process, leveraging the advancements in technology & evolving manifestations and methods of crime.
The Cabinet gave nod to expansion of the Varanasi International Airport. The comprehensive plan includes the construction of a new terminal building, apron extension, runway extension, parallel taxi track and allied works.
