Modi Cabinet Announces Big MSP Hike For Farmers | ₹2.6 Lakh Crore Boost

The Union Cabinet led by Prime Minister Narendra Modi has approved a major increase in MSP for Kharif crops, giving a huge boost to farmers across India. The government said nearly ₹2.6 lakh crore will go directly to farmers through MSP procurement. The new MSP rates cover paddy, pulses, cotton, maize, bajra, soybean, groundnut and several other crops. The government said every crop has been given at least 50% profit over production cost under the “cost plus 50% profit” formula. Along with the MSP hike, the Cabinet also approved key projects including coal gasification, Ahmedabad-Dholera semi high-speed rail line and Nagpur airport upgrade. The decisions are aimed at boosting farmers’ income, infrastructure growth and India’s self-reliance push amid global uncertainties.