As Monsoon Approaches, Govt Increases MSP For 14 Kharif Crops; Farmers To Get 50-83% More Than Cost

Speaking over the procurement of wheat and paddy crops this year, the minister told the press that procurement of the two kharif crops has gone up despite concerns due to lockdown.

FILE PIC/PTI

New Delhi: In order to provide relief to the farmers who suffered huge income loses during the COVID-19 pandemic, the central government on Monday announced to raise the minimum support prices (MSP) for at least 14 Kharif crops including sunflower, maize, tur, Jawar beside others. ALSO READ: Centre Approves Rs 20,000 Cr Subordinate Debt For MSMEs Stressed Due To COVID Pandemic Addressing the media in New Delhi, Union Minister Prakash Javdekar unveiled the various measures that, Cabinet under the leadership of Prime Minister Narendra Modi, took for the welfare of farmers, street vendors and MSMEs who were worst-hit during the Coronavirus induced lockdown enforced on March 25. Elaborating on the measures and initiatives taken to help the stressed farmers, the Agriculture Minister Narendra Singh Tomar announced revised MSP for paddy which has now been raised by Rs 53 per quintal for the 2020-21 crop year. "For Jowar. MSP is at Rs 2,620 per quintal and Bajra at Rs 2,150 per quintal. Among other produce, the MSP for Cotton has been increased to Rs 5,515 per quintal, while for ragi, moong and groundnut, MSP has been raised by 50 per cent," Tomar said. Speaking over the procurement of wheat and paddy crops this year, the minister told the press that procurement of the two kharif crops has gone up despite concerns due to lockdown. "360 lakh metric tonnes of wheat have been procured this year versus 342 lakh metric tonnes last year. In the case of paddy, procurement has been at 95 lakh metric tonnes versus 90 lakh metric tonne last year," minister said. Besides raising MSP for the summer crops to help farmers, the centre also took historic decisions to help MSMEs. The cabinet gave a green signal to the recommendation of Rs 20,000 crore subordinate debt for MSMEs (Micro, Small and Medium Enterprises) to boost the sector. The government conducted rounds of discussions over the revised and widened definitions of MSMEs. It also agreed on a distressed asset fund Rs 4,000 crore to help weak MSMEs that are struggling through NPA norms.