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Kharif crops are sown in June-July. Harvesting takes place in September-October. (File photo)
The central government has increased the minimum support price (MSP) of 14 kharif crops including paddy, cotton, soybean, pigeonpea. The Union Cabinet took this decision today i.e. on 28 May. Union Information and Broadcasting Minister Ashwini Vaishnav said that the new MSP of paddy has been fixed at Rs 2,369, which is 69 rupees more than the previous MSP.
The new MSP of cotton has been fixed at Rs 7,710. Its another type of new MSP has been increased to Rs 8,110, which is already Rs 589 more. The new MSP will cost the government a burden of 2 lakh 7 thousand crores. This is 7 thousand crores more than the previous crop season. The Union Minister said that this has been taken care of that at least 50% more than the cost of the MSP crop.
What is MSP or Minimum Support Price The minimum serpent price i.e. minimum support price is the guaranteed price that farmers get on their crops. Even if the prices of that crop in the market are low. The reasoning behind this is that farmers should not affect the fluctuations in the prices of crops in the market. They continued to get the minimum price.
The government decides the MSP on the recommendation of CACP i.e. Commission for Agriculture Cost and Prize before every crop season. If a crop has a bumper yield, then the prices in the market are low, then MSP acts as a fixed assured price for them. It acts like an insurance policy to protect farmers when prices fall in a way.
MSP consists of 23 crops:
- 7 types of grains (paddy, wheat, maize, millet, jowar, ragi and barley)
- 5 types of pulses (gram, arhar/tur, urad, moong and lentils)
- 7 oilseeds (rapeseed-mustard, peanuts, soybean, sunflower, sesame, kusum, monitoring)
- 4 commercial crops (cotton, sugarcane, copra, raw jute)
What crops come in kharif crops? Paddy (rice), maize, jowar, millet, moong, groundnut, sugarcane, soybean, udd, tur, kulthi, jute, flax, cotton etc. Kharif crops are sown in June July. They are harvested in September-October.
Other cabinet decisions
1. Interest subsidy scheme of Kisan Credit Card forwarded The central government decided to continue the interest subsidy scheme of Kisan Credit Card for 2025-26. The interest subsidy scheme (MISS) has been approved to continue for the next financial year 2025-26. The necessary funds have also been fixed for this. This scheme is to give loans to farmers at low interest through Kisan Credit Card (KCC).
- Farmers can take loans up to Rs 3 lakh from KCC at 7% interest, in which banks get 1.5% interest subsidy.
- Farmers who pay loans on time, get an encouragement of up to 3%, that is, their interest remains only 4%.
- For animal husbandry or fisheries, these benefits are available on the range of up to Rs 2 lakh on a loan.
2. Two multitracking projects approved The cabinet approved two multitracking projects of Indian Railways in Maharashtra and Madhya Pradesh. Under this, the third and fourth lines will be laid between Ratlam-Nagada. Wardha-Balharshah fourth line will be postponed. The total estimated cost of these projects is Rs 3,399 crore and will be completed by 2029-30.
3. Approves Four-Len Highway between Badwell-Nellar in Andhra Pradesh The central government has approved the 108 km long four-lane highway project between Badwell-Nellar in Andhra Pradesh. The cost of this project is Rs 3,653 crore. This highway will work to connect Krishnapatnam Port in Andhra Pradesh and a part of the National Highway-67, which will improve port connectivity. This road also connects the nodes of three major industrial corridors- VCIC (Koparthi), HBIC (Oravakal) and CBIC (Krishnapatnam).
