MSP of Kharif crops enhanced, Kishan Reddy praises PM Modi

Union Minister G Kishan Reddy expressed gratitude to Prime Minister Narendra Modi for approving an increase in Minimum Support Prices (MSP) for Kharif crops for the 2023-24 marketing season. The Cabinet Committee on Economic Affairs aims to ensure that farmers receive fair prices and encourage crop diversification. Telangana farmers have experienced an average increase in MSP ranging from 60 to 80 percent since 2014, specifically for crops such as sunflower, cotton, maize, and paddy. Sunflower has had the highest growth with an over 80 percent increase in MSP since 2014 while cotton has seen a 75 percent increase in MSP since 2014. Paddy and maize have seen approximately a 60 percent MSP increase since 2014. The revised MSP for these crops ensures farmers receive a minimum margin of at least 50 percent over their cost of production.