In a bid to increase the farmers’ income, the Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved an increase in the Minimum Support Prices (MSPs) for all mandated Kharif crops for marketing season 2021-22.
The highest absolute increase in MSP over the previous year has been recommended for sesamum (Rs 452 per quintal) followed by tur and urad (Rs 300 per quintal each), Union Agriculture Minister Narendra Singh Tomar at the cabinet press briefing on Wednesday.
The Centre has hiked paddy MSP by Rs 72 to Rs 1,940 per quintal for 2021-22 crop year from Rs 1,868 per quintal last year.
#Cabinet approves #MSP for Kharif Crops for marketing season 2021-22;
Highest absolute increase in MSP over the previous year has been recommended for various crops: Agriculture Minister @nstomar#CabinetDecisions
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— PIB India (@PIB_India) June 9, 2021
In the case of groundnut and nigerseed, there has been an increase of Rs 275 per quintal and Rs 235 per quintal, respectively, in comparison to last year. The differential remuneration is aimed at encouraging crop diversification, an official release said.
The increase in MSP for Kharif Crops for marketing season 2021-22 is in line with the Union Budget 2018-19 announcement of fixing the MSPs at a level of at least 1.5 times of the All-India weighted average Cost of Production (CoP), aiming at reasonably fair remuneration for the farmers.
The expected returns to farmers over their cost of production are estimated to be highest in the case of Bajra (85 per cent) followed by urad (65 per cent) and tur (62 per cent). For rest of the crops, return to farmers over their cost of production is estimated to be at least 50 per cent,” it said.
Besides, the Umbrella Scheme ‘Pradhan Mantri AnnadataAaySanraksHan Abhiyan’ (PM-AASHA) announced by the government in 2018 will aid in providing remunerative return to farmers for their produce. The Umbrella Scheme consists of three sub-schemes — Price Support Scheme (PSS), Price Deficiency Payment Scheme (PDPS) and Private Procurement and Stockist Scheme (PPSS) on a pilot basis.
The Union Cabinet also approved the extension of the applicability of New Investment Policy (NIP)-2012 read with its amendment to the Ramagundam Fertilizers and Chemicals Limited, said Union Minister Prakash Javadekar, who was also present at the briefing.
He further said, “Railways will be provided with 5 megahertz spectrum in 700 MHz band. It will improve its communication system & make rail travel safer. Railway currently uses optical fibre. With the availability of spectrum, there will be radio communication,” Union Minister Prakash Javadekar
“Rs 25,000 crores will be spent in the next 5 years for signal modernization and 5G spectrum implementation in Railways,” he added.
(With ANI inputs)