Cabinet Approves ₹69 per quintal Increase in Paddy MSP for Kharif Season; Know the Major Decisions taken
New Delhi (The Uttam Hindu): The Government has approved Minimum Support Price (MSP) hike in Paddy (common variety) by ₹69 per quintal to ₹2,369 per quintal and the MSP for paddy ( Grade A) has been increased by ₹69 to ₹2,389 per quintal. This decision comes after Union Cabinet meeting chaired by PM Narendra Modi. Although hike for paddy has been highlighted, the government has also approved revised MSPs for 13 Kharif crops with nigerseed seeing the highest absolute increase of ₹820 per quintal, followed by ragi, cotton and sesamum.
Vaishnav said that the government has continuously increased the MSP in the last 10 years and the recent decision will benefit more than 7 crore farmers. Among pulses, the support price of tur has been increased by Rs 450 to Rs 8,000 per quintal, while the MSP of urad has been increased by Rs 400 to Rs 7,800 per quintal and the MSP of moong has been increased by Rs 86 to Rs 8768 per quintal.
The government on Wednesday approved the continuation of the Modified Interest Subsidy Scheme (MISS) for 2025-26, under which farmers get short-term loans at a cheaper rate through Kisan Credit Card (KCC). Information and Broadcasting Minister Ashwini Vaishnav informed that the decision to continue MISS for the financial year 2025-26 with the existing 1.5 per cent interest subsidy was taken by the Union Cabinet. Continuation of this scheme will cost the exchequer Rs 15,640 crore. Under MISS, farmers get short-term loans up to Rs 3 lakh at a concessional interest rate of 7 per cent through KCC, with 1.5 per cent interest subsidy provided to eligible lending institutions. Additionally, farmers who repay their loans on time are eligible for an incentive of up to 3 per cent as Prompt Repayment Incentive (PRI), effectively reducing their interest rate on KCC loan to 4 per cent.
Badvel Nellore four-lane highway approved
This highway will be built from Badvel-Gopravam village (NH-67) to Guruvindapudi (NH-16). Its total length will be: 108.134 km. The total estimated cost of building this four lane is estimated to be Rs 3653.10 crore. The Badvel-Nellore corridor will ensure connectivity to three major industrial corridors of Andhra Pradesh. This corridor will reduce the travel distance to Krishnapatnam Port from 142 km to 108.13 km. About 20 lakh man-days of direct employment and 23 lakh man-days of indirect employment will be generated through the project.
108 km long four-lane highway project approved in Andhra Pradesh
1. Project cost 3,653 crores
2. To be developed on BOT model, concession period 20 years
Wardha-Ballarshah Rail Line Extension
1. Doubling of Wardha to Ballarshah Rail route in Maharashtra approved
2. Will double the capacity of goods and passenger traffic
Ratlam-Nagda Rail Project
1. Approval to lay fourth line on Ratlam-Nagda railway line
2. Project cost ₹1,018 crore
3. 41 km long railway section from Ratlam to Nagda in Madhya Pradesh will be converted into four lines
The Cabinet Committee on Economic Affairs approved two multitracking projects to increase line capacity in Indian Railways to ensure seamless and faster transportation of both passengers and goods. Ratlam-Nagda 3rd and 4th line and Wardha-Balharshah 4th line have been approved. The total estimated cost of the projects is Rs 3,399 crore (approx) and will be completed by 2029-30.