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Union Cabinet hikes minimum support price on 14 kharif crops, MSP up by 83%

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New Delhi, PTI / Business Desk. The Union Cabinet has approved several amendments on Monday. In addition, the Cabinet has also approved to increase the Minimum Support Price (MSP) of 14 crops of Kharib. After the cabinet meeting, Agriculture Minister Narendra Singh Tomar and Information Broadcasting Minister Prakash Javadekar gave this information in a press conference. Tomar said that to strengthen the economic condition of farmers, the cabinet has taken this decision, which will benefit the crores of farmers of the country.



Tomar said that the government has ensured that farmers get 50 to 83 percent more returns than their cost on the crop. The MSP has been issued on this basis. The Agriculture Minister said that for the crop year 2020-21, the cabinet fixed the MSP of paddy at Rs 1,868, barley MSP Rs 2,620, millet’s MSP Rs 2,150 per quintal. The MSP of cotton has been increased by Rs 260 to Rs 5,515 per quintal. Also, the MSP of maize has increased by 53 per cent, groundnut by 50 per cent, sunflower by 50 per cent, soybean by 50 per cent and cotton by 50 per cent.

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Union Agriculture Minister Narendra Singh Tomar told the press conference that 360 lakh metric tonnes of wheat has been procured. 95 lakh metric tonnes of paddy has been procured. In addition, 16.07 lakh metric tonnes of pulses and oilseeds have been procured.




Tomar told the press conference that the Union Cabinet has decided to extend the last date to 31 August for exemption of interest on loan repayment for farmers. This decision of the Cabinet will provide relief to a large number of farmers. Also, the cabinet has decided to extend the last date of payment of short-term loans up to Rs 3 lakh for farming and allied work till 31 August 2020.

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