The central government has taken five big decisions in the recent cabinet meeting, giving relief to farmers across the country. One of the main announcements was that the Cabinet Approves Hike in MSP for 14 Kharif crops for the year 2025-26. This step has been taken to ensure better prices for farmers and to support them in the upcoming farming season.
MSP Increased to Support Farmers
MSP, or Minimum Support Price, is the fixed rate at which the government buys crops from farmers. This price is set so that farmers get a fair income even if market prices go down.
This year, the Cabinet has increased the MSP for 14 Kharif crops. For example, the MSP for paddy has gone up by INR 69 per quintal. Nigerseed got the highest hike of INR 820 per quintal. Other crops like ragi, cotton, and sesamum also got good price increases. This decision will help lakhs of farmers earn more and reduce their losses.
The government has said that the new MSPs are at least 1.5 times the cost of growing the crop. This means farmers will earn more than what they spend on farming.
Interest Subsidy Scheme Extended
Another important decision is the extension of the Modified Interest Subvention Scheme. Under this scheme, farmers can take short-term loans at just 1.5% interest through their Kisan Credit Card (KCC). This will help farmers buy seeds, fertilizers, and other farming needs without taking loans from local moneylenders.
The scheme will be available for the financial year 2025-26 and will make credit easily available and affordable for farmers.
Summary of Cabinet Decisions
- Cabinet Approves Hike in MSP for 14 Kharif crops.
- Paddy MSP increased by INR 69 per quintal.
- The highest MSP hike of INR 820 for nigerseed.
- The interest subsidy scheme continued with a 1.5% loan rate for farmers.
- Other decisions focused on improving rural development and administration.
These steps are part of the government’s plan to improve the income of farmers and promote agriculture in India. The decisions will bring financial relief to millions of farmers, especially before the start of the Kharif season.
Official Sources:
Press Information Bureau – MSP for Kharif Crops
Press Information Bureau – Interest Subvention Scheme
