Cabinet approves increase in MSP for khalif crops, revival package for BSNL
BSNL’s authorised capital will rise to ₹2.10 trillion from ₹1.50 trillion now, the government said in a press release.
PremiumNew Delhi: The Cabinet Committee on Economic Affairs on Wednesday approved an increase in minimum support prices (MSP) of khalif crops in the run up to state assembly and general elections.
For paddy, the biggest of the kharif crop, MSP has been raised by ₹143 hike per quintal to ₹2,183 per quintal for the 2023-24 marketing season, while that of moong has been raised by a steep ₹803,the most among kharif crops, to ₹8,558 per quintal.
“The move is to ensure remunerative prices to growers for their produce and to encourage crop diversification," the government said in a press release.
MSP for soybean, sesamum, niger seed and cotton was increased to ₹4,600 per quintal, ₹8,635 per quintal, ₹7,734 per quintal, and ₹6,620 per quintal respectively. The MSP for long-staple cotton has been raised to ₹7,020 per quintal.
Mint had reported that the central government was weighing a 3-8% increase in minimum support prices of key kharif crops for the upcoming marketing season.
In another important move, the Cabinet Committee on Economic Affairs also approved a ₹89,047 crore revival package for state-run telecom operator Bharat Sanchar Nigam Ltd (BSNL). It also approved allotment of 4G/5G spectrum for the company through equity infusion.
Following the move, BSNL’s authorised capital will rise to ₹2.10 trillion from ₹1.50 trillion now, the government said in a press release.
The CCEA also approved a ₹5,453 crore proposal to expand metro network in Delhi NCT, with a new 28.5 km line connecting HUDA City Centre in Gurugram to Cyber City, and another 1.5 km spur line to connect Dwarka Expressway.
The project is proposed to be completed in four years from the date of sanction, and is to be implemented by Harayana Mass Rapid Transport Corporation Ltd which will be set up as a 50:50 Special Purpose Vehicle (SPV) of the government of India and Haryana government after the sanction order is issued.
"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!
