Centre clears minimum support price for 14 Kharif crops
- In Reports
- 09:33 PM, Jun 19, 2024
- Myind Staff
On June 19th, the Union Cabinet approved minimum support prices (MSP) for 14 Kharif crops, following recommendations from the Commission for Agricultural Costs and Prices (CACP). Addressing a press briefing, Information & Broadcasting Minister Ashwini Vaishnaw announced that the MSP for paddy has been increased by 5.35%, reaching Rs 2,300 per quintal for the 2024-25 Kharif marketing season.
Emphasising that the government had adhered to its policy decision from the 2018 Union Budget, which stipulates that MSP should be at least 1.5 times the cost of production, Minister Ashwini Vaishnaw highlighted that this principle was applied in the latest MSP hike. The increase in the support price of paddy is particularly noteworthy given the upcoming elections in states such as Haryana, Maharashtra, Jharkhand, and Delhi.
According to Minister Ashwini Vaishnaw, the MSP for 'common' grade paddy has been increased by Rs 117 to Rs 2,300 per quintal, while for the 'A' grade variety, it has been raised to Rs 2,320 per quintal for the upcoming Kharif season. This decision marks the first cabinet decision taken during Prime Minister Narendra Modi's third term in office.
Additionally, the minister mentioned that the highest absolute increase in MSP over the previous year has been recommended for oilseeds and pulses.
Among other decisions, Information & Broadcasting Minister Ashwini Vaishnaw informed that the Union Cabinet has approved 1 GW offshore wind energy projects in Gujarat and Tamil Nadu, with a total outlay of Rs 7,453 crore. Additionally, the Cabinet approved the development of an all-weather greenfield deep draft major port at Vadhavan in Maharashtra. This port, which will be constructed at a cost of Rs 76,200 crore, is expected to be one of the top 10 ports in the world upon completion.
Following the Cabinet meeting, Minister Ashwini Vaishnaw announced that the Cabinet has approved a Rs 2,869.65 crore proposal for the expansion of Lal Bahadur Shastri International Airport at Varanasi. This development project includes the construction of a new terminal building, extension of the apron and runway, parallel taxi track, and other associated works. Varanasi is the Lok Sabha constituency of Prime Minister Narendra Modi.
The Cabinet has also approved the National Forensic Infrastructure Enhancement Scheme (NFIES), which was proposed by the Ministry of Home Affairs. The scheme has a total financial outlay of Rs 2,254.43 crore for the period from 2024-25 to 2028-29.
Image Source: Mint
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