Massive hike in MSP by Modi govt: 150% MSP of Kharif crops among others, farmers ensured 50% profit margin

The Union cabinet has approved the proposal of increasing the Minimum Support Price (MSP) for Kharif crops by 1.5 times the cost. According to report, the MSP for paddy has been increased by around Rs 250 per quintal.

Prime Minister Modi had announced recently that the government is soon going to increase the MSP for Kharif crops to 150% of the cost of production. It was announced during the union budget and was among one of the several major steps planned by the BJP-led government.

Yesterday, it was reported by many media outlets that the PM is holding a high-level meeting to discuss the hike and other major issues. PM Modi reportedly took stock of the procurement data of all the crops on which the MSP was planned to be hiked. The NITI Ayog and the Ministry of Agriculture representatives were there to update the PM on the economic impact and operation and execution of the MSP increase.

- Advertisement - - Article resumes -

The MSP for several crops including rice, sunflower seeds, millets, groundnuts and pulses have been significantly increased.

According to reports, fine paddy and common paddy have seen an MSP hike of 11.3% and 12.9% respectively while Jowar, bajra and ragi will get the MSP hike of 40.9%, 36.8% and 52.5% respectively. Oil seeds like soybeans, sesame and groundnut are to get an MSP increased by 11.4%,17.9% and 9.9% respectively.

Sunflower seeds’ MSP got a 31.4% hike while Moong farmers will get a 25.1% increase in MSP. Maize farmers will be getting MSP increased by 19.3% while Tur and Urad dal crops will be given an MSP hiked by 4.1% and 3.7% respectively. 2 varieties of cotton staples, long and medium are to get an increased MSP of 26.1% and 28.1% respectively.

The Prime Minister has been very keen on schemes and reforms in the farm sector. He has asserted on many occasions that his government is dedicated to achieving the target of doubling farmer’s income by 2022.

The proposed 150% MSP is expected to help paddy, pulses and other major crops like millet the most. This will ensure a minimum 50% profit margin for the farmers. MSP for several crops like cotton, sesame, sunflower seed, groundnut etc has been raised significantly by the cabinet’s decision.

According to reports, the rise in MSP is estimated to cost about Rs 33,500 crores. The share of paddy alone in the extra cost is estimated to be Rs 12,300 crores.

PM Modi has time and again assured farmers in the country that the government will support them whole-heartedly. “Beej se le ke bazaar tak” has been his slogan for his government’s commitment to farmers.

Share and Support:
Support OpIndia by paying for content

Most read articles recently

Statue of all ironies: Pritish Nandy uses example of fake news to spread fake news

Pritish Nandy shared a fake image which was earlier shared by Youth Congress leader

2018 Assembly Elections: Here are the BJP internal survey numbers

The final results of all states are to be released on 11th December.

Arnab Goswami asked to appear before Court in defamation suit filed by Shashi Tharoor

Arnab Goswami has been attracting threats from Congress leaders and those associated with them, especially, Shashi Tharoor
anti-modi cop denied bail

Court cites disgraced cop Sanjiv Bhatt’s criminal past, behaviour and false statements, denies bail

Sanjiv Bhatt is accused of being the mastermind behind the entire operation of kidnapping the lawyer and plating the narcotics that implicated the Rajasthan based lawyer. 

West Bengal: TMC workers ‘purify’ the ground with Gangajal and cow dung after BJP holds a rally in Cooch Behar

TMC workers sprinkled Gangajal after applying cow dung on the ground where the rally was held.

Exclusive story of Christian Michel’s extradition and how the grand plan was implemented by CBI and Ajit Doval

CBI and other sources have revealed some startling details of the entire saga of how the plan unfolded and how, the unthinkable was achieved to extradite a man who possibly holds several secrets, Christian Michel, with Ajit Doval at the centre of it

25 Lakh fake beneficiaries found in Anganwadis of UP, Maharashtra and Assam

The Ministry of Women and Child Development had ordered the survey of Anganwadi Schemes after the crackdown of Assam government on ghost beneficiaries.

As Vinod Dua finds another job, The Wire says he continues to be their consulting editor despite sexual harassment accusations

Another woman had accused Vinod Dua of sexual harassment as well, however, after these multiple allegations, The Wire's internal committee report, if there was one, was never made public.

Uttar Pradesh: Samajwadi party leader detained after being caught on camera assaulting BJP spokesperson

Political leaders who are the so-called representatives of our country have often been seen indulging in such pettiness

Raghuram Rajan backed yet-to-be functional Krea University among 19 new institutes to get ‘Institute of Eminence’ tag

The earlier list which featured yet-to-be-functional Jio Institute was announced, the HRD ministry was mercilessly mocked

Latest articles

Connect with us

125,495FansLike
97,236FollowersFollow
6,056SubscribersSubscribe

Don't miss these