MSP Increased for 14 Kharif Crops Including Paddy, Millet, and Ragi

Key Highlights

• Union Cabinet increases MSP for 14 Kharif crops.
• Significant rises: Rs 444 for finger millet, Rs 550 for pigeon pea.
• Increases range from Rs 117 to Rs 632.
• Aims to support farmer’s incomes and crop cultivation.
• Additional government cost: Rs 2 lakh crore.

On Wednesday, June 19, 2024, the Union Cabinet announced an increase in the minimum support price (MSP) for the Kharif crop season 2024-2025. This decision, made during a cabinet meeting chaired by Prime Minister Narendra Modi, brings good news for farmers across the country.

Also Read: PM Kisan Yojana: 17th Installment of 2000 Rupees Reaches 9.26 Crore Farmers

Significant Increase in MSP for Various Crops

The minimum support price of several Kharif crops has been increased by more than Rs 400. Here are some of the notable increases:

• Finger Millet: Increase of Rs 444
• Pigeon Pea: Increase of Rs 550
• Sesame: Increase of Rs 632
• Sunflower: Increase of Rs 520
• Black Gram: Increase of Rs 450
• Groundnut: Increase of Rs 406

Detailed MSP Increases for Other Crops

Apart from the above, there have been significant increases in the MSP for other important crops. Here are the details:

• Paddy (Common): Increase of Rs 117
• Paddy (Grade): Increase of Rs 117
• Jowar (Common): Increase of Rs 196
• Jowar (Hybrid): Increase of Rs 191
• Millet: Increase of Rs 125
• Moong: Increase of Rs 124
• Maize: Increase of Rs 135
• Soybean: Increase of Rs 292
• Ragi: Increase of Rs 444
• Arhar: Increase of Rs 550
• Urad: Increase of Rs 450
• Peanut: Increase of Rs 406
• Sunflower: Increase of Rs 520
• Sesame: Increase of Rs 632

Comparison of MSP: 2024-25 vs 2023-24

Here is a comparison of the new MSP for 2024-25 with the MSP of the previous year for all 14 crops:

Long-Term Comparison of MSP: 2013-14 vs 2024-25

To provide more context, here is a comparison of MSP from 2013-14 to 2024-25:

Impact on the Government

The increase in MSP will put an additional burden of Rs 2 lakh crore on the central government. However, this step has been taken in the interest of farmers. With the new minimum support prices, it will be more beneficial for farmers to cultivate Kharif crops.

Also Read: Last Chance to Apply for Irrigation Pipeline Subsidy of Rs 18,000

CMV360 Says

The Union Cabinet's decision to increase the MSP for 14 Kharif crops, including paddy, millet, and ragi, is a significant boost for farmers. With increases ranging from Rs 117 to Rs 632, this move aims to support agriculture or agricultural incomes and encourage the cultivation of Kharif crops. Despite the additional financial burden on the government, this step is seen as a positive measure to benefit the farming community.