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Cabinet approves MSP for 14 kharif crops, cotton MSP hiked by Rs 501, paddy MSP up by Rs 117

The new MSP for paddy is Rs 2,300, which Rs 117 increment over the previous MSP, Union Minister Ashwini Vaishnaw said at the briefing. -

June 20, 2024 The Union Cabinet on Wednesday approved the Minimum Support Prices of 14 kharif crops, including Paddy, Ragi, Bajra, Jowar, Maize and Cotton. Union Minister Ashwini Vaishnaw noted that The Cabinet okayed at least 50% more MSP compared to the cost for 14 crops.

"Some very important decisions have been taken in today's Cabinet. One very important decision has been taken for the welfare of farmers. Kharif season is starting, and for that, the Cabinet has approved MSP on 14 crops. The new MSP for paddy is Rs 2,300, which Rs 117 increment over the previous MSP,” Vaishnaw said at the briefing.

“The third term of PM Modi is very important as it focuses on continuity with change through many decisions for farmers' welfare,” the minister added.

Vaishnaw said that after today's decision the farmers will get around Rs 2 lakh crore as MSP.

The Cabinet also cleared the construction of the Vadhawan Port, Vaishnaw said. “The Vadhavan Port will have a capacity of 23 million TEUs once completed… It will be bigger than the combined capacity of all current Indian ports as of today.”

The Cabinet also approved 1 GW offshore wind energy projects in Gujarat, Tamil Nadu with total outlay of Rs 7,453 crore.

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