MSP

January 22, 2025 4:40 PM

Government approves Rs 315 hike in raw jute MSP for 2025-26

The Centre has approved a Rs. 315 increase in the Minimum Support Price (MSP) of raw jute for the marketing season of 2025-26. The new MSP for raw jute will be set at Rs. 5,650 per quintal, up from Rs. 5,335 per quintal for the previous season. This increase follows the government's long-term policy of linking the MSP to the average cost of production. Since 2014-15, the MSP of raw jute has risen from Rs. 2,400 per quintal to the current level, a growth of Rs. 3,250 per quintal (2.35 times). In...

November 25, 2024 5:13 PM

Inflation to ease, economic growth to accelerate in coming months: Finance Ministry

India's food inflation is likely to ease while the growth outlook for the economy is "cautiously optimistic" for the coming months as the agricultural sector is likely to benefit from favourable monsoon conditions, increased minimum support prices and adequate supply of inputs, according to the Finance Ministry's monthly economic review released on Monday. India's retail inflation jumped to 6.21 percent in October, marking a 14-month high, driven by elevated food inflation in a few vegetables. ...

October 16, 2024 11:57 PM

PM Modi hails Cabinet decision to hike MSP for rabi crops, calls it a big win for farmers

Prime Minister Narendra Modi on Wednesday lauded the Union Cabinet's approval to raise the Minimum Support Price (MSP) for all mandated Rabi crops for the 2025-26 marketing season. He said that the government is taking significant steps to promote the welfare of farmers across the country. In a post on X, PM Modi said, “We are constantly making bold decisions for the welfare of our farmer brothers and sisters. Today, the government has increased the MSP for Rabi crops, including wheat and gra...

October 16, 2024 3:54 PM

Cabinet approves MSP for Rabi crops for marketing season 2025-26

The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi, has approved the increase in the Minimum Support Prices (MSP) for all mandated Rabi Crops for the Marketing Season 2025-26. The government has increased the MSP of Rabi Crops to ensure remunerative prices to the growers for their produce. The absolute highest increase in MSP has been announced for rapeseed & mustard at Rs 300 per quintal followed by lentil (masur) at Rs 275 per quintal. The decision w...

September 16, 2024 6:17 PM

Cabinet approves MSP for 14 Kharif season crops, farmers to get Rs 35,000 crore more over previous season

The Union Cabinet on Wednesday approved an increase in the Minimum Support Price (MSP) for 14 Kharif crops, including paddy, ragi, bajra, jowar, maize, and cotton. The decision will have a financial implication of Rs 2 lakh crore for the government while ensuring a gain of Rs 35,000 crore for farmers over the previous season. Addressing the media after the Cabinet meeting, Information and Broadcasting Minister Ashwini Vaishnaw underscored the significance of Prime Minister Narendra Modi's third...