Centre raises MSP for 14 kharif crops:Paddy rate up by ₹72, tur by ₹450; higher support for pulses and oilseeds

The central government has increased the Minimum Support Price (MSP) for 14 Kharif crops. The Union Cabinet approved the decision on May 13. Union Minister Ashwini Vaishnaw said the new MSP for paddy has been fixed at ₹2,441, which is ₹72 higher than the earlier rate. The MSP for tur (pigeon pea) has been increased by ₹450. What is MSP or Minimum Support Price? Minimum Support Price (MSP) is the guaranteed price farmers receive for their crops, even when market prices fall. The aim is to protect farmers from sudden price drops in the market and ensure they continue to receive a minimum payment for their produce. The government fixes MSP before every crop season based on recommendations from the Commission for Agricultural Costs and Prices (CACP). When there is a bumper crop and market prices decline, MSP works like a fixed safety price. It acts as a type of insurance for farmers during periods of low prices. 3 other Cabinet decisions 1. Approval for coal gasification projects The government approved a ₹37,500 crore scheme to promote surface coal and lignite gasification projects, which convert coal into gas. The scheme aims to speed up India’s coal and lignite gasification programme. The government has set a target of converting 100 million tonnes of coal into gas by 2030. Officials say this will improve India’s energy security and reduce dependence on imports. 2. Nagpur Airport land lease extended The government approved extending the lease period for land owned by the Airports Authority of India at Dr Babasaheb Ambedkar International Airport, which had been leased to MIHAN India Limited. The lease will now continue beyond August 6, 2039. 3. India’s first indigenous semi-high-speed train project approved The government approved the Ministry of Railways’ Ahmedabad (Sarkhej)-Dholera Semi High-Speed Double Line Project. The project will cost around ₹20,667 crore. Officials said this will be the first semi-high-speed railway project in India to be fully developed using indigenous, or Made in India, technology.