'Promise fulfilled': PM Modi lauds Cabinet decision to increase MSP for Kharif crops

Prime Minister Narendra Modi on Monday endorsed Cabinet decision mandating increase in minimum support price (MSP) of Kharif crops and said his government has fulfilled promise to farmers.

On Twitter, PM Modi said, "Taking forward mantra of 'Jai Kisan,' Cabinet has taken major decisions in favour of farmers. MSP has been ensured to be affixed at least one and a half times cost for 14 Kharif crops. Also, period for repaying short term loans up to Rs 3 lakh has been extended."

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Cabinet's d to MSP hike

Union Agriculture Minister Narendra Singh Tomar on Monday anunced that Union Cabinet h approved increase in Minimum Support Price for 14 Kharif crops by 50-83%. Maintaining that farmers were a priority for Centre even during nationwide lockdown, he revealed that y gave a bumper crop due to thoughtful decisions taken by government. He ted that government h accepted recommendations of Swaminathan Commission in 2018-19 itself by ensuring that farmers get a 50% profit on ir produce.

RE | Cabinet Approves Increase In MSP Of 14 Kharif Crops, Loan Repayment Deline Extended

'A big relief for farmers' 

Tomar also mentioned that Cabinet h decided to extend time for farmers to repay ir loans till August 31. If a farmer mand to repay loan till August 31, only a 4% interest shall be applicable. According to him, this was a big relief for farmers and recalled that subsidy worth Rs.28,000 h been given under this scheme in 2019. He ded that more than 6.65 crore farmers are covered in scheme. 

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