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The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved an increase in the minimum support prices (MSP) for all 14 kharif crops for the 2024-25 crop season that runs from July to June.<\/p>\n<\/p><\/div>\n
The increase means farmers will get around \u20b9<\/span>2 trillion as MSP \u2013 \u20b9<\/span>35,000 crore more than what they got in the previous season, Union railways minister Ashwini Vaishnaw said while briefing the media on the cabinet decisions.<\/p>\n “The hike in MSP of kharif crops is in line with the PM Modi’s third term vision of policy continuity to support farmers and boost their income,” Vaishnaw added.<\/p>\n Read Also: Budget 2024 Expectations: Agri-credit to fertilizer subsidy\u2014here\u2019s what agriculture sector expects this year<\/p>\n The highest increase came for oilseeds nigerseed and sesamum. The hike was by \u20b9<\/span>983 and \u20b9<\/span>632 and was fixed at \u20b9<\/span>8,717 and at \u20b9<\/span>9,267 per quintal, respectively.<\/p>\n Pulses like tur or arhar (pigeon pea) also benefited from a big MSP hike by about \u20b9<\/span>550 from last year to stand at \u20b9<\/span>7,550 per quintal.<\/p>\n The government aims to achieve self-sufficiency in pulses by 2027.<\/p>\n The MSP of paddy, the main kharif crop, has been raised by \u20b9<\/span>117 to \u20b9<\/span>2,300 per quintal for \u2018common\u2019 grade variety and to \u20b9<\/span>2,320 for grade A.<\/p>\n Also This: The fallout of India’s unpredictable farm trade policy<\/p>\n Jowar, Bajra, Ragi and Maize, other major cereals’ MSPs have been increased to \u20b9<\/span>3,371-3,421, \u20b9<\/span>2,625, \u20b9<\/span>4,290 and \u20b9<\/span>2,225 per quintal from last season’s \u20b9<\/span>3,180-3,225, \u20b9<\/span>2,500, \u20b9<\/span>3,846 and \u20b9<\/span>2,090 a quintal.<\/p>\n In the case pulses and oilseeds, the increase in MSP has been between \u20b9<\/span>124 to \u20b9<\/span>983 compared to last year.<\/p>\n Moong (green gram) and urad (black gram) MSPs have been fixed at \u20b9<\/span>8,682 and \u20b9<\/span>7,400 per quintal, an increase of \u20b9<\/span>124 and \u20b9<\/span>450 from the 2023-24 kharif marketing season.<\/p>\n In the case of oilseeds, groundnut, sunflower seed and yellow soy bean attracted a hike of \u20b9<\/span>406, \u20b9<\/span>520 and \u20b9<\/span>292 from the previous year at \u20b9<\/span>6,783, \u20b9<\/span>7,280 and \u20b9<\/span>4,882 per quintal.<\/p>\n The MSP for cotton, an important cash crop, was fixed at \u20b9<\/span>7,121 for the medium staple variety and \u20b9<\/span>7,521 for the long staple variety, an increase of \u20b9<\/span>501 for both.<\/p>\n The increase in MSP for khaif crops \u00a0is in line with the Union Budget 2018-19 announcement of fixing the MSP at a level of at least 1.5 times of the average cost of production.\u00a0<\/p>\n The expected margin to farmers over their cost of production is estimated to be the highest for bajra (77%) followed by tur (59%), maize (54%) and urad (52%). For the rest of the crops, the margin is estimated to be at 50%, an official statement said.<\/p>\n \t<\/p>\nPM vision of policy continuity to support farmers<\/h2>\n