New Delhi | Jagran News Desk: The Union Cabinet on Monday provided a huge relief to the farmers by raising the MSP for Kharif by 50 to 83 per cent. Union Minister Narendra Tomar said," The Minimum Support Prices (MSP) for 14 Kharif crops has been increased by 50 to 83 % to provide relief to the farmers," as quoted by ANI. 

The MSP rate for Paddy is now at Rs 1868 per quintal, Jowar-Rs 2620/quintal, Bajra-Rs 2150/quintal, and 50% increase in Ragi, Moong, Groundnut, Soyabean, Til and Cotton, for the year 2020-21. 

Tomar further added that the farmers will get more time to repay loans. 

"The farmers will get more time to repay their loans, till August now," ANI quoted him as saying. 

The announcement was made after PM Modi chaired a meeting of Union cabinet as India entered the opening day of "unlock 1". The meeting holds significance as it was first after the central government entered the second term in office.  

Also Read: Big boost for MSMEs, better crop prices for farmers as Cabinet announces PM Modi's 'historic decisions'

Last month the Finance Ministered had allotted Rs 1 lakh crore for agriculture infra and reforms in law to increase farmers' income announced during the third tranche of Rs 20 lakh crore stimulus package. 

Besides this, Rs 10,000 crore scheme was announced for Micro food enterprises and promoting PM Modi's vision of 'vocal for local with global outreach'. Rs 20,000 crore was announced for farmers involved in fishing. Rs 13,343 crore was announced for vaccination of cattle, Rs 15 for animal husbandry infrastructure development, Rs 4,000 to herbal cultivation. 

Also Read: Economic Package | Rs 1 lakh crore for agriculture infra, reforms in law to increase farmers' income announced

She had also said that three crore farmers to get additional emergency credit support of Rs 30,000 crore during the second tranche. 

Posted By: James Kuanal