DA Hike Alert! Centre announces 3% hike in Dearness Allowance (DA); MSP for many crops also increased
DA Hike Update, MSP on rabi crop increased: In the cabinet meeting held on Wednesday, the government has approved the increase in dearness allowance (DA) for central employees. The increase will cost Rs 9,448 crore to Centre.
DA Hike Update, Centre increases MSP on rabi crop: In a big development for Central government employees before Diwali, Prime Minister Narendra Modi-led (PM Modi) cabinet today (Wednesday, October 16, 2024) approved a 3 per cent increase in the dearness allowance (DA) of central government employees. Other than that, minimum support prices (MSP) on many crops such as wheat, sunflower, and mustard, kharif crops have also been revised. The Coastal Shipping Bill 2024 has also got the cabinet's nod. A new rail-road bridge in Kashi, estimated to be built at a cost of Rs 2,642 crore, also got Centre's approval.
Minimum Support Price(MSP) on rabi increased
Other than that, in a huge relief to farmers before Diwali, the Centre has also approved increasing the Minimum Support Price (MSP) on rabi crops, sources said.
MSP for wheat increased
In the cabinet meeting on Wednesday, the decision to increase the MSP on rabi crops for farmers was taken, sources told.
MSP for wheat increased
They said that the MSP of wheat has been increased by Rs 150 per quintal from Rs 2,275 to Rs 2,425.
MSP for mustard increased
At the same time, the MSP of mustard has been increased by Rs 300 to Rs 5,950, and the MSP of gram has been increased by Rs 210 to Rs 5,650.
MSP for gram increased
The MSP of gram has been increased by Rs 210/quintal.
Update on Coastal Shipping Bill 2024
The Coastal Shipping Bill 2024, meanwhile, has also been approved.
MSP for barley increased
The MSP for barley has also been increased by Rs 130 to Rs 1,980/quintal.
MSP for lentil increased
The MSP for lentil has been increased by Rs 275 to Rs 6,700.
MSP for sunflower increased
Sunflower's MSP has been increased by Rs 140.
MSP hike
Centre said that between 2014 and 2024, Rs 20.64 lakh crore has been spent on MSP purchases, whereas between 2004 and 2014, this expenditure was close to Rs 7 lakh crore