Union Minister Kishan Reddy thanked Indian Prime Minister Narendra Modi for increasing the minimum support prices for Kharif crops. In the statement released to this effect, Telangana farmers have benefited greatly due to the increase in minimum support prices for the 2023-24 marketing season.
Union Minister Kishan Reddy and PM Modi
For increasing the minimum support prices for Kharif crops Indian Prime Minister Narendra ModiUnion Minister Kishan Reddy thanked. In the statement issued in this regard, he stated that Telangana farmers have benefited greatly due to the increase in minimum support prices for the 2023-24 marketing season. Further, the central government has increased the minimum support prices for Kharif crops marketing season 2023-24 to encourage crop diversification so that farmers can get better price for their produce. The Union Minister stated in his statement that since 2014, the farmers of Telangana have benefited a lot from the increase in MSP.
Also, since 2014, the farmers of Telangana have benefited a lot due to the increase in minimum support price of 60-80 percent for major crops. Kishan Reddy also highlighted the increased prices of crops like sunflower, cotton, maize and paddy. ‘Sunflower has seen the highest growth since 2014 with the minimum support price increasing by more than 80 per cent. The minimum support price for cotton has been increased by 75 percent since 2014 to promote Telangana’s handloom and textile products. As the state is the second largest producer of rice in the country, since 2014 the price of rice and maize has increased by about 60 per cent, which has benefited the rice farmers, said the Union Minister.
May the giver be happy:#Cabinet under the chairmanship of PM Shri @narendramodi approves increased MSP for Kharif Crops for Marketing Season 2023-24; this will enhance the income of growers and encourage crop diversification.#CabinetDecisions pic.twitter.com/PorXUKDILR
— G Kishan Reddy (@kishanreddybjp) June 7, 2023
Further, the Minister said that the increase in MSP was in line with the announcement made in the Union Budget 2018-19 to fix the minimum support price at a level of at least 50 percent of the average cost of production. Through the statement, the minister said that the estimated margin for farmers on the cost of production for crops like rice, maize, sunflower and cotton grown in Telangana will be at least 50 percent.
Details of increased minimum support price for crops from 2014 to 2023-2024 marketing season
Rice – Common 1360 to 2183 (61 percent increase)
Rice-grade A 1400 to 2203 (57 percent increase)
Maize 1310 to 2090 (60 percent increase)
Sunflower Seed 3750 to 6760 (80 percent increase)
Cotton (medium staple) 3750 to 6620 (77 percent increase)
Cotton (long staple) 4050 to 7020 (73 percent increase)
Increase in average cost of production from 2014 to 2023-2024 marketing season
Rice – Common 2183 to 1455 (50 percent increase)
Maize 2090 to 1394 (50 percent increase)
Sunflower Seed 6760 to 4505 (50 percent increase)
Cotton (medium staple) 6620 to 4411 (50 percent increase)
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