The Central Government has increased the Minimum Support Price (MSP) of 14 Kharif crops. The Union Cabinet took this decision today i.e. on 13 May. Cabinet Minister Ashwini Vaishnav said that the new MSP of paddy has been fixed at Rs 2441, which is Rs 72 more than the previous MSP. Whereas the MSP of tur has been increased by Rs 450. Support price of groundnut increased by Rs 254 to Rs 7517. What is MSP or Minimum Support Price? Minimum Support Price is the guaranteed price that farmers get on their crop. Even if the prices of that crop are low in the market. The logic behind this is that farmers should not be affected by fluctuations in crop prices in the market. They should continue to get the minimum price. The government decides the MSP before every crop season on the recommendation of CACP i.e. Commission for Agricultural Costs and Prices. If there is a bumper production of a crop and its market prices are low, then MSP acts as a fixed price for them. In a way, it works like an insurance policy to protect farmers when prices fall. 3 other decisions of the Cabinet 1. Approval of projects for making gas from coal: The government has approved a scheme of Rs 37,500 crore to promote projects of surface coal and lignite gasification (making gas from coal). This scheme has been launched to accelerate India’s coal and lignite gasification program. The government has set a target of converting 100 million tonnes of coal into gas by 2030. This will strengthen the energy security of the country and reduce our dependence on things coming from abroad. 2. Extension of land lease of Nagpur Airport: For Nagpur Airport, the government has approved to extend the lease period of the land of Airport Authority of India (AAI), which was given to Mihan India Limited (MIL). Now this lease will continue even after August 6, 2039. 3. The country’s first indigenous semi-high-speed train will run between Ahmedabad-Dholera: The government has approved the Ahmedabad (Sarkhej)-Dholera Semi-High-Speed Double Line Project of the Railway Ministry. This entire project will cost around Rs 20,667 crore. This will be the first semi-high-speed project of Indian Railways, which will be completely built with indigenous technology.
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Government increased the minimum support price of 14 Kharif crops: MSP of tur daam increased by ₹ 450 to ₹ 8450, paddy increased by ₹ 72
