Union Cabinet Approves Key Decisions: Boosting Agriculture, Green Energy, and Infrastructure

New Delhi: The Union Cabinet, chaired by the Prime Minister, convened on Wednesday to deliberate crucial matters that will shape India’s future. Let’s know the five significant decisions taken during this pivotal meeting:

1. Minimum Support Price (MSP) Hike for Kharif Crops:

• The government has given the green signal to increase the MSP for 14 Kharif crops, including paddy. This move will inject a whopping ₹2 lakh crore directly into farmers’ accounts.
• Notably, the new MSP for paddy stands at ₹2300 per quintal, reflecting a substantial increase of ₹170 compared to the previous year. Cotton, moong, toor dal, maize, jowar, and peanuts also witness upward revisions in their MSPs.

1. Revolutionizing Warehousing Infrastructure:

• In a bid to enhance storage facilities and streamline agricultural supply chains, the government has set an ambitious target of constructing 2 lakh warehouses across the country. This initiative aims to bolster farmers’ income and reduce post-harvest losses.
• The National Agricultural Cooperative Marketing Federation of India (NAFED) has developed an efficient app to facilitate oilseed sales, simplifying transactions for farmers.

1. Expanding Vadhavan Port in Palghar:

• A momentous decision was made to invest ₹76,200 crore in expanding the Vadhavan Port in Palghar. This strategic move will elevate the port’s capacity to a staggering 298 million tonnes.
• The project is expected to create a whopping 12 lakh employment opportunities, fortify the India-Middle East Corridor, and position the port among the world’s top 10.

1. Offshore Wind Energy Project:

• The government has given the green light to India’s first offshore wind project. Floating terminals will be established in the sea, harnessing the consistent wind patterns along the West and East Coasts.
• Gujarat and Tamil Nadu will host 500 MW floating terminals each, contributing significantly to India’s renewable energy goals. The project’s estimated cost is ₹7453 crore.

1. Varanasi Airport’s Transformation:

• Prime Minister Narendra Modi’s parliamentary constituency, Varanasi, is set to receive a major upgrade. The airport’s capacity will expand, accommodating 39 lakh passengers annually.
• A new terminal, runway, highway, and underpass are in the works, with an investment of ₹2870 crore. The airport will be a testament to India’s rich culture and environmental consciousness, aiming to become a green airport.

These decisions underscore the government’s commitment to agricultural welfare, sustainable energy, and robust infrastructure. As India strides forward, these policy moves promise to shape a brighter future for all citizens.

Minimum Support Prices for all Kharif crops for Marketing Season 2024-25

Rs. per quintal

*Refers to cost which includes all paid-out costs such as those incurred on account of hired human labour, bullock labour/machine labour, rent paid for leased in land, expenses incurred on use of material inputs like seeds, fertilizers, manures, irrigation charges, depreciation on implements and farm buildings, interest on working capital, diesel/electricity for operation of pump sets etc., miscellaneous expenses and imputed value of family labour.