Big announcement of Modi government, MSP of paddy increased, farmers will get benefit of ₹ 2.60 crore

Modi Cabinet on Kharif Crops MSP: The Modi Cabinet on Wednesday approved the expenditure of ₹2.60 lakh crore on Minimum Support Price (MSP) of Kharif crops for the 2026-27 season. Its objective is to provide strong income support to the farmers. MSP has been determined on the basis of the recommendations of the Commission for Agricultural Costs and Prices (CACP).

The Cabinet has approved increase in the Minimum Support Price (MSP) of 14 Kharif crops for the 2026-27 marketing season. So that it can be ensured that farmers get remunerative prices for their produce.

New MSP for paddy and other crops

On Wednesday, the government increased the minimum support price (MSP) of paddy by ₹72 per quintal to ₹2,441 per quintal for the 2026-27 Kharif marketing season. Compared to last year, the highest increase in MSP has been recommended for sunflower seeds (₹622 per quintal), followed by cotton (₹557 per quintal), niger seeds (₹515 per quintal) and sesame (₹500 per quintal).

#cabinet approves increase in the Minimum Support Prices (MSP) for 14 Kharif Crops for Marketing Season 2026-27

Government has increased the MSP of Kharif Crops for Marketing Season 2026-27, to ensure remunerative prices to the growers for their produce.

The highest… pic.twitter.com/XLlB6TM3Nl

— PIB India (@PIB_India) May 13, 2026

According to government estimates, around ₹2.60 lakh crore is expected to be paid to farmers as a result of this decision, while the annual procurement is estimated to be 824.41 lakh metric tonnes (LMT). The government also said that the MSP is at least 50% more than the cost of production, thereby continuing the policy started in 2019, which aims to provide better returns to farmers.

According to news agency PTI, the decision in this regard was taken during the meeting of the Cabinet Committee on Economic Affairs (CCEA), which was chaired by Prime Minister Narendra Modi. For the 2026-27 Kharif marketing season (September-October), the support price for ‘normal’ and ‘A-grade’ varieties has been increased by ₹72 per quintal, making them ₹2,441 per quintal and ₹2,461 per quintal, respectively.

₹37,500 crore coal gasification scheme approved

The Cabinet has approved the ₹37,500 crore coal gasification scheme. The plan aims to reduce India’s dependence on imported natural gas, methanol and ammonia, as well as make more efficient use of domestic coal reserves.

The scheme aims to achieve coal gasification capacity of 100 million tonnes by 2030, and will provide financial incentives to both public and private sector projects.

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