kharif

The Cabinet Committee on Economic Affairs chaired by the Prime Minister Narendra Modi has approved the increase in the Minimum Support Prices (MSP) for 14 Kharif Crops for Marketing Season 2025-26.

According to an official press release, the hike in MSP for Kharif Crops for Marketing Season 2023-24 is consistent with the Union Budget 2018-19 announcement of "setting the MSP at least 1.5 times the All-India weighted average Cost of Production, with the goal of providing farmers with relatively fair remuneration."

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The increase is likely to cost an additional 33,500 crores.