New Delhi22 minutes ago
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The cabinet meeting was chaired by Prime Minister Narendra Modi on Wednesday. Many important decisions were taken during this period. Union Minister Anurag Thakur said that the government in the cabinet has decided to increase the Fair and Remunerative Price (FRP) of sugarcane for the next season.
The FRP has been increased from Rs 310 per quintal to Rs 315 per quintal for the season 2023-24. This decision of the government will benefit more than 5 crore sugarcane farmers and people dependent on it.
Sugarcane rate increased by Rs 105 in last 9 years
In the last 9 years, the rate of sugarcane has been increased by Rs 105. Its FRP was Rs 210 per quintal in 2013-14, which has now been increased to Rs 315 per quintal for 2023-24.
Announcement of Rs 3.68 lakh crore for urea subsidy
The Cabinet Committee on Economic Affairs (CCEA) has announced a urea subsidy of Rs 3,68,676.7 crore for three years from 2022-23 to 2024-25. Now the period of existing subsidy on urea has been extended till March 31, 2025.
Farmers will get more price in FRP
FRP is the minimum price at which sugarcane is to be bought from farmers who have got it. Farmers directly benefit from the increase in FRP. Farmers get higher price by selling sugarcane.
Earlier, the MSP of Kharif crops was increased
Earlier this month, in the cabinet meeting, the Minimum Support Price (MSP) of Kharif crops was increased. Then the maximum support price of moong dal is 10.4%, groundnut 9%, sesamum 10.3%, paddy 7%, jowar, bajra, ragi, table, arhar dal, urad dal, soyabean, sunflower seed in FY 2023. An increase of about 6-7% was projected for 2024.
