THE Government on Wednesday raised the minimum support price (MSP) for paddy by 5.35 per cent to Rs 2,300 per quintal for the 2024-25 kharif marketing season. The hike in paddy support price comes despite the Government sitting on surplus rice stocks, but it is significant ahead of elections in states like Haryana, Maharashtra, Jharkhand, and Delhi. Announcing the MSP increase, Information and Broadcasting Minister Ashwini Vaishnaw said the cabinet has approved the minimum support prices for 14 kharif (summer) crops based on recommendations from the Commission for Agricultural Costs and Prices (CACP). Govt raises paddy... The MSP for ‘common’ grade paddy has been raised Rs 117 to Rs 2,300 per quintal, while for the ‘A’ grade variety it has been hiked to Rs 2,320 per quintal for the upcoming kharif season, Vaishnaw told reporters.

 

This is the first cabinet decision taken in Prime Minister Narendra Modi’s third term in office, the Minister said. Vaishnaw said the Government had a clear policy decision taken in the 2018 Union Budget that MSP should be at least 1.5 times the cost of production, and this principle was followed in the latest MSP hike. The cost was scientifically calculated by CACP, he added. Cabinet approves Rs 2,869 cr for development of Varanasi airport: THE Union Cabinet on Wednesday approved a Rs 2,869.65 crore proposal for the expansion of Lal Bahadur Shastri International Airport at Varanasi. The development of the airport at Varanasi, which is the Lok Sabha constituency of Prime Minister Narendra Modi, includes the construction of new terminal building, extension of apron and runway, parallel taxi track and other allied works, informed I&B Minister Ashwini Vaishnaw after the Cabinet meeting.

 

Cabinet approves development of Rs 76,200-crore greenfield major port at Vadhavan: The Union Cabinet on Wednesday approved the development of a Rs 76,200 crore all-weather greenfield deep draft major Port at Vadhavan in Maharashtra, according to an official statement. The statement said the project will be constructed by Vadhavan Port Project Limited (VPPL), an SPV formed by Jawaharlal Nehru Port Authority (JNPA) and Maharashtra Maritime Board (MMB), with a shareholding of 74 per cent and 26 per cent, respectively. Cabinet approves Rs 7,453-cr VGF scheme for offshore wind energy projects: The Union Cabinet on Wednesday approved a Rs 7,453 crore-Viability Gap Funding (VGF) scheme for offshore wind energy projects, including one in Gujarat.