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

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

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

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Cabinet's nod to MSP hike

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

READ | Cabinet Approves Increase In MSP Of 14 Kharif Crops, Loan Repayment Deadline Extended

'A big relief for the farmers' 

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

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