New MSP for kharif crops, high return

New Delhi: The Union Cabinet on Monday approved the new minimum support price for 14 mandated Kharif crops that will ensure a 50 to 83% higher remuneration than the production cost to the farmers, Information and Broadcasting Minister Prakash Javadekar said at a press briefing. He said this is a "historic decision" with regard to the summer crops for the marketing season of 2020-21 and aimed at fulfilling PM Modi's commitment to increase the farmers' income significantly by 2022.

Briefing reporters at a Press conference, he said the Cabinet took a series of decisions on the first working day after the Modi government completed its first year since elections. Another key decision pertains to street vendors of vegetables, fruits, eatables, pan shops and cobblers, who are being extended a bank loan of Rs 10,000 for the firsttime, returnable in a year in monthly instalments with interest subsidy to those who pay back on time. Hence forthpaddy (rice) will be bought by the government at the new MSP of Rs 1868 per quintal; high breed jowar at Rs 2620 per quintal; and Bajra at Rs 2150 per quintal. In case of maize,theMSPis 53%more thanthe farmer's productioncost while that of Tur/Arhar is 58%higher thancost.There is also 50% increase in the case of MSPs of cotton, moong, groundnut, soyabean and til, the agriculture minister said.

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