Before the 22nd installment of the PM Kisan Yojana, the Modi cabinet gave a big gift, increasing the MSP of this crop..

Ahead of the 22nd installment of the PM Kisan Yojana, the Modi cabinet has given farmers a major boost. Amid the wait for the next installment of the PM Kisan Yojana, a cabinet meeting held on Tuesday approved an increase in the minimum support price (MSP) for one crop.

The Union Cabinet on Tuesday approved an increase of ₹275 to ₹5,925 per quintal for raw jute for the 2026-27 marketing season. This decision was taken by the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, in its first meeting at the Prime Minister's new office, 'Seva Tirtha'.

Farmers will benefit from the increased MSP.

The new MSP will ensure that farmers receive a profit of 61.8 percent above the average cost of production across the country.

Information and Broadcasting Minister Ashwini Vaishnav told reporters after the meeting, "The minimum support price for raw jute announced for the marketing season 2026-27 is in line with the principle that the MSP should be at least 1.5 times the average cost of production across the country, as announced by the government in Budget 2018-19."

He said that the MSP for raw jute for the marketing season 2026-27 has been increased by Rs 275 per quintal compared to the previous marketing season 2025-26. He said that the government has increased the MSP for raw jute to Rs 5,925 per quintal in 2026-27, from Rs 2,400 per quintal in the financial year 2014-15.

The MSP amount paid to jute-producing farmers during the period from FY 2014-15 to 2025-26 was Rs 1,342 crore, whereas during the period 2004-05 to 2013-14 it was Rs 441 crore.

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