PM Modi endorses Cabinet decision to increase MSP for Kharif crops

Prime Minister Narendra Modi on Monday endorsed the Cabinet decision mandating the increase in minimum support price (MSP) of Kharif crops.

"Taking forward the mantra of 'Jai Kisan,' the Cabinet has taken major decisions in favour of the farmers. The MSP has been ensured to be affixed at least one and a half times the cost for 14 Kharif crops. Also, the period for repaying short term loans up to Rs 3 lakh has been extended," PM Modi tweeted.

Earlier today, the Union Cabinet approved an increase in MSP for the Kharif crops.

Briefing the media on the Cabinet decisions, Agriculture Minister Narendra Singh Tomar said that the MSP has been increased for all mandated Kharif crops for marketing season 2020-21.

The Cabinet also approved the extension of repayment date for short term loans for agriculture and allied activities by banks which have become due or shall become due between March 1, 2020, and August 31, 2020.

( With inputs from ANI )