Government has hiked MSP for 14 kharif crops to bring cash to farmers' homes.

Cabinet Decision: There is an important news for the farmers of the country as the government has decided to increase the minimum support price (MSP) for 14 crops of Kharif season to increase the income of the farmers. The proposal was approved in the Union Cabinet meeting held on Wednesday. Kharif crops for which the government has announced an increase in minimum support prices are paddy, ragi, millet, sorghum, sorghum and cotton. Although the decision will put a financial burden of Rs 2 lakh crore on the government, the farmers will get a benefit of Rs 35,000 crore compared to last season. Speaking to reporters after the Union Cabinet meeting, Information and Broadcasting Minister Ashwini Vaishnav further said that PM Modi's 3rd term is very important as he will bring many decisions for the welfare of farmers. He said that in the 2-term rule of Modi government, a strong foundation has been laid for economic development and in the third term, important decisions will be taken for the welfare of the people. Ashwini Vaishnav further said that the farmers will get Rs 1 lakh crore and the cabinet has approved minimum support price (MSP) for 14 kharif crops including paddy, ragi, millet, sorghum, sorghum and cotton. With today's decision, farmers will get about Rs 1 lakh crore as MSP. This is Rs 35,000 crore more than last season, he said. The minister said that the government is committed to provide 50 percent more value to farmers than the input cost and these decisions are aligned with that objective. Also Read: SBI chief argues for tax exemption on interest income in Budget Finance released for PM Kisan's 17th term Union minister says higher MSP hike proposed for oilseeds and pulses than last year After assuming office for the third term as Prime Minister, Prime Minister Narendra Modi signed his first file to release the 17th tranche of the Prime Minister's Kisan Fund, which shows the government's commitment to the welfare of farmers. At an event in Varanasi on Tuesday, June 18, 2024, Prime Minister Modi released the 17th installment of over Rs 20,000 crore through Direct Benefit Transfer (DBT) to around 9.26 crore beneficiary farmers under the Pradhan Mantri Kisan Samman Nithi (PM-KISAN). . Also read: Fuel and food items not allowing inflation to ease, tensions to rise The post Cash rains in farmers' homes, government hikes MSP of 14 kharif crops appeared first on Prabhat Khabar.