The Union Cabinet on 19 June 2024 approved an increase in the Minimum Support Price (MSP) for 14 Kharif crops, including paddy, ragi, bajra, jowar, maize, and cotton.
- Kharif sowing usually begins in June with the onset of the southwest monsoon, while the crop marketing season will run from October 2024 to September 2025.
- 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.
- The minimum support price (MSP) for paddy raised by 5.35% to Rs 2,300 per quintal for the upcoming 2024-25 kharif marketing season. It is an increase of Rs 117 per quintal.
- The MSP for sorghum (jowar) hybrid has gone up by Rs 191 to Rs 3,371, and the Maldandi quality by Rs 196 to Rs 3,421; pearl millet (bajra) by Rs 125 to Rs 2,625; finger millet (ragi) by Rs 444 to Rs 4,290; and maize by Rs 135 to Rs 2,225.
- To reduce the country’s dependence on the import of pulses, the government has increased the MSP of arhar dal to Rs 7,550 per quintal; by Rs 124 for green gram beans (moong) to Rs 8,682; and by Rs 450 for black gram to Rs 7,400.
