Kishan Reddy commends PM Modi for enhancing MSP of Kharif crops

♦    Average of 60 per cent to 80 per cent increase in MSP since 2014 for those crops predominantly grown in Telangana

♦    Sunflowers sees the highest growth since 2014 with more than 80 per cent

♦    To encourage cotton farmers and promote Telangana handlooms and textiles MSP for Cotton has seen a 75 per cent increase in MSP since 2014

Hyderabad: Union Minister of Tourism, Culture, and DoNER, G Kishan Reddy, expressed his heartfelt gratitude to Prime Minister Narendra Modi for the decision of the Cabinet Committee on Economic Affairs (CCEA) to approve the increase in the Minimum Support Prices (MSP) for all mandated Kharif crops for the marketing season 2023-24.

Chaired by the Prime Minister, the CCEA’s decision aims to ensure that farmers receive fair prices for their produce and to encourage crop diversification.

In a statement released on Wednesday, G Kishan Reddy emphasised the Government of India’s commitment to supporting farmers by raising the MSP for Kharif Crops. He stated, “The increase in MSP for the Marketing Season 2023-24 is a step towards empowering farmers and promoting crop diversification.”

He also highlighted the significant benefits that farmers in Telangana have gained from the increased MSP since 2014. He noted, “Telangana farmers have experienced remarkable advantages with an average increase in MSP ranging from 60 to 80 percent since 2014, particularly for crops predominantly grown in the region.”

He specifically mentioned notable MSP hikes for crops such as sunflower, cotton, maize, and Paddy. “Sunflower has witnessed the highest growth with an MSP increase of over 80 percent since 2014. Cotton, which promotes Telangana’s handlooms and textiles, has seen a 75 percent increase in MSP since 2014. As Telangana is the second-largest paddy-producing State, the approximately 60 percent MSP increase for paddy and maize since 2014 has greatly benefitted our annadatas,” the Minister added.

Further, he highlighted that the decision to increase the MSP aligns with the Union Budget of 2018-19, which aimed to fix the MSP at a level of at least 50 percent of the average cost of production.

He affirmed, “The revised MSP for crops such as Paddy, Maize, Sunflower, and Cotton, grown in Telangana, ensures that farmers receive a minimum margin of at least 50 percent over their cost of production.”