The Union Cabinet, led by Prime Minister Narendra Modi, has approved a significant increase in the Minimum Support Price (MSP) for all major Kharif crops for the 2024-25 marketing season. Announced by JP Nadda, this decision aims to provide economic stability to farmers and encourage increased cultivation of various Kharif crops, highlighting the government’s commitment to agricultural progress.
Significant Increase in MSP for Kharif Crops
The Union Cabinet, led by Prime Minister Narendra Modi, has approved a significant increase in the Minimum Support Price (MSP) for all major Kharif crops for the marketing season 2024-25. This move aims to provide economic stability to farmers and encourage the cultivation of various Kharif crops.
New MSP Rates Announced
JP Nadda announced the new MSP rates, highlighting substantial increases for key crops. The MSP for paddy has risen by ₹117 to ₹2300 per quintal. Cotton farmers will see an increase of ₹501, bringing the MSP to ₹7121 and ₹7521 per quintal, depending on the variety. These hikes are expected to bolster farmers’ incomes and incentivize higher crop production.
Economic Support and Increased Acreage
Nadda emphasized that the increased MSP will offer crucial economic support to farmers, potentially leading to expanded acreage of Kharif crops. The government aims to motivate farmers to invest more in their crops by guaranteeing better prices, thereby enhancing agricultural productivity and sustainability.
Commitment to Farmers’ Progress
Reiterating the government’s dedication to the welfare of farmers, Nadda praised the NDA government’s efforts under Prime Minister Modi’s leadership. He congratulated the farming community and expressed gratitude to the Prime Minister for this pivotal decision, which underscores the government’s commitment to the progress and prosperity of India’s food providers.
