Farmers are in luck in Modi 3.0, new MSP fixed for 14 crops, minimum support price of paddy is Rs 2300

MSP Hike News : Farmers have got another gift in the third term of the Modi government. The cabinet has approved the increase in the minimum support price (MSP) for Kharif crops (Kharif Crop MSP). The MSP of 14 Kharif crops has been increased. The minimum support price of paddy has been increased by Rs 117 to Rs 2300.

Union Minister Ashwini Vaishnav announced to increase the MSP of Kharif crops. He said that the third term of Prime Minister Modi is very important, as it focuses on continuity with change through several decisions for the welfare of farmers. Let us tell you that before this, PM Modi had transferred about Rs 20 thousand crore as the 17th installment in the accounts of 9.26 crore farmers under PM Kisan Samman Nidhi.

How much MSP on which crops?

The minimum support price for cotton has been fixed at Rs 7121. It has increased by Rs 501. In 2013-14, the MSP of cotton was Rs 3700. Similarly, the MSP of ragi has been fixed at Rs 4290, MSP of maize at Rs 2225, MSP of moong at Rs 8682. The MSP of toor dal has been fixed at Rs 7550. The new MSP of urad dal has been fixed at Rs 7400 and MSP of groundnut oil at Rs 6783. Along with this, the work of building two lakh godowns is also going on at a fast pace.

2 lakh crore burden on the government

The new minimum support price will put a burden of Rs 2 lakh crore on the government. This is Rs 35 thousand crore more than the last crop season. Union Minister Ashwini Vaishnav said that MSP should be at least 1.5 times the cost of the crop.

Minimum support price is the guaranteed price that farmers get for their crops, even if the prices of that crop are low in the market. The reason is that the fluctuations in the prices of crops in the market should not affect the farmers. They should keep getting the minimum price.

Which crops are there in Kharif?

Paddy (rice), maize, jowar, bajra, moong, groundnut, sugarcane, soybean, urad, tuar, kulthi, jute, flax, cotton etc. Kharif crops are sown in June-July, while they are harvested in September-October.