Tezzbuzz Desk- The Cabinet has approved increasing the MSP of six Rabi crops for the 2027-28 marketing season. According to the government, the aim of this step is to provide better prices to farmers and promote crop diversification.
The highest increase in MSP has been made for safflower by Rs 675 per quintal. Due to this, the MSP of safflower has increased to Rs 7,215 per quintal. After the increase of Rs 413 in the MSP of rapeseed and mustard, it has become Rs 6,613 per quintal. MSP of lentils has increased by Rs 390 to Rs 7,390 per quintal. Similarly, after an increase of Rs 83 in the MSP of gram, it has increased to Rs 5,958 per quintal, MSP of barley has increased by Rs 136 to Rs 2,286 and MSP of wheat has increased by Rs 25 to Rs 2,610 per quintal.
The government said that the new MSP is in line with the provision made in the Budget 2018-19, under which the MSP was said to be fixed at least 1.5 times the all-India average cost of production. The Cabinet has also approved the third phase of the Green Energy Corridor Scheme. A total of Rs 1,86,405 crore will be spent on this scheme. It aims to strengthen the intra-state transmission system and facilitate transmission of up to 135 GW of renewable energy across states and union territories.
The scheme is targeted to be completed by FY2032-33. This includes Rs 1,36,378 crore for the transmission system within the state and Rs 50,000 crore for a 50 GWh battery energy storage system. The central government will provide financial assistance of Rs 54,082 crore under this scheme.