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Tuesday, July 23, 2024

Cabinet approves hike in MSP for kharif crops, Gurugram metro extension also cleared


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New Delhi: The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on Wednesday approved a hike in minimum support price (MSP) for Kharif crops for marketing season 2023-24 while also clearing Rs 5,452 crore metro extension project in Gurugram.

Briefing media on Cabinet decisions, Commerce and Industry Minister Piyush Goyal said that the maximum increase in MSP has been approved in case of Moong dal.

The MSP for Moong dal for Kharif marketing season 2023-24 has been raised by 10.4% to Rs 8,558 per quintal.

Goyal noted that production of pulses in the last four years has increased by about 25% while in case of oilseeds the increase has been to the extent of 30%.

In case of groundnut, the MSP has been raised by 9% for the Kharif marketing season. The MSP for sesamum seed has been raised by 10.3% to Rs 8,635 per quintal.

At Rs 2,183 per quintal MSP for paddy (common) has been raised by 7%. Paddy-Grade A MSP has been fixed at Rs 2,203 per quintal.

Goyal said that while inflation has been contained, there has been an increase in MSP for various crops to benefit farmers.

As per Third Advance Estimates for 2022-23, total foodgrain production in the country is estimated at record 330.5 million tonnes which is higher by14.9 million tonnes as compared to the previous year 2021-22. This is the highest increase in the last five year.

The Cabinet also approved metro connectivity from HUDA City Centre to Cyber City, Gurugram with Spur (side line) to Dwarka Expressway. The entirely elevated project is estimated to cost Rs 5,452 crore.

Minister Goyal said that both Centre and state would share the project cost besides an international development assistance loan coming for the metro project.

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