Kharif MSP Hike: Good News for Farmers as Government Increases MSP for Soybean and Cotton

In a major relief for farmers ahead of the Kharif season, the Central Government has announced an increase in the Minimum Support Price (MSP) for key crops, including soybean and cotton. The decision was taken during a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi.

Union Minister for Information and Broadcasting Ashwini Vaishnaw stated that the decision reflects Prime Minister Modi’s commitment to farmer welfare. “This announcement comes after careful consideration of various factors including demand and supply, domestic and international market trends, and input costs such as water and land usage,” Vaishnaw said.

Crop Previous MSP (₹/quintal) New MSP (₹/quintal) Increase (₹) Soybean 4,892 5,328 436 Tur (Arhar) 7,550 8,000 450 Millet (Bajra) 2,625 2,775 150 Paddy (Grade-A) 4,290 4,886 596 Groundnut 6,783 7,263 480 Sesame 8,717 9,537 820