Centre increases support price for Kharif crops

The Union Cabinet has approved an increase in the Minimum Support Price (MSP) for Kharif crops, aiming to provide farmers with a 50 percent profit over their cost of production. This move is part of the government’s continued effort to improve the economic condition of the agricultural sector and ensure better returns for farmers. For instance, the MSP for a quintal of paddy has been raised by Rs. 69, bringing the new price to Rs. 2,369. This hike is expected to benefit a significant number of farmers across the country who rely on Kharif crop cultivation during the monsoon season.

Union Minister Ashwini Vaishnav announced that the Centre has allocated Rs. 2.70 lakh crore to facilitate the increase in support prices. This substantial investment demonstrates the government’s commitment to strengthening agricultural income and supporting rural livelihoods. The MSP increase aligns with the broader policy to ensure that farming becomes more remunerative, which in turn can encourage greater productivity and reduce the financial stress experienced by farmers.

In addition to the boost in crop prices, the government has also sanctioned funds for key infrastructure projects. These include allocations for the development of the Badvel-Nellore and Wardha-Ballarsha national highways. Such infrastructure development is crucial for improving connectivity in agricultural regions, easing the transportation of produce, and enabling better market access for farmers. Together, these initiatives reflect a comprehensive approach to rural development and agricultural support.