New Delhi: The Union Cabinet, under the leadership of Prime Minister Narendra Modi, has approved the Minimum Support Price (MSP) for 14 Kharif season crops, offering significant relief to farmers. Union Information and Broadcasting Minister Ashwini Vaishnaw announced the decision, highlighting the increased MSP for various crops including paddy, ragi, bajra, jowar, maize, and cotton.
For the 2024-25 Kharif season, the MSP for paddy has been increased by ₹117 to ₹2,300 per quintal. Minister Vaishnaw emphasized the importance of PM Modi’s third term, focusing on continuity and transformation for farmers’ welfare through various crucial decisions.
MSP Rates for 2024-25:
– Paddy (Common): ₹2,300 per quintal (Increase: ₹117)
– Paddy (Grade A) ₹2,320 per quintal (Increase: ₹117)
– Jowar (Hybrid): ₹3,371 per quintal (Increase: ₹191)
– Jowar (Maldandi):₹3,421 per quintal (Increase: ₹196)
– Bajra: ₹2,625 per quintal (Increase: ₹125)
– Ragi: ₹4,290 per quintal (Increase: ₹444)
– Maize: ₹2,225 per quintal (Increase: ₹135)
– Arhar: ₹7,550 per quintal (Increase: ₹550)
– Moong: ₹8,682 per quintal (Increase: ₹124)
– Groundnut: ₹6,783 per quintal (Increase: ₹406)
– Sunflower Seed: ₹7,280 per quintal (Increase: ₹520)
– Soybean (Yellow): ₹4,892 per quintal (Increase: ₹292)
– Sesame: ₹9,267 per quintal (Increase: ₹632)
– Nigerseed: ₹8,717 per quintal (Increase: ₹983)
– Cotton (Medium Staple): ₹7,121 per quintal (Increase: ₹501)
– Cotton (Long Staple): ₹7,521 per quintal (Increase: ₹501)
Minister Vaishnaw stated that farmers would receive approximately ₹2 lakh crore as MSP, marking an increase of ₹35,000 crore compared to the previous season.
Approval for Vadhavan Port Project
The Cabinet also approved a ₹76,200 crore project to develop the all-weather Greenfield deep-draft major port at Vadhavan in Maharashtra’s Palghar district. This port, with a capacity of 23 million TEUs and 298 million tonnes, is expected to create 1.2 million jobs. It will be constructed as a joint venture between the Jawaharlal Nehru Port Authority and the Maharashtra Maritime Board, becoming one of the top 10 ports in the world and an integral part of the India-Middle East-Europe Corridor (IMEC).
India’s First Offshore Wind Energy Project
In another historic decision, the Cabinet approved India’s first offshore wind energy projects. These 1 GW projects, each 500 MW, will be located off the coasts of Gujarat and Tamil Nadu, marking a significant opportunity for the country’s renewable energy sector.