Good news for Farmer’s. Farmers in West Bengal are getting a significant boost with the latest increase in the Minimum Support Price (MSP) for raw jute. The new MSP has been set at Rs 5,650 per quintal for the financial year 2025-26, which is an increase of Rs 315 from last year.
This hike translates to about a 6% rise in the minimum support price, a decision that has been greenlit by the Union Cabinet and is expected to greatly benefit farmers. Experts are optimistic that this increase will enhance farmers’ incomes.
In a press conference on Wednesday, Union Minister Piyush Goyal highlighted that this price rise will lead to higher profits for farmers. He noted that farmers can expect around 66.8% more profit from paddy cultivation this year compared to last year.
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The support prices for paddy and other crops have seen a significant jump compared to the previous year. Back in 2014-15, the MSP for jute was just Rs 2,400 per quintal, but now it has soared to Rs 5,650, marking a 2.35-fold increase. This rise means farmers will receive a fairer price, ultimately improving their quality of life.
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As for the Krishak Bandhu project, the West Bengal government is currently providing financial aid to farmers through this scheme. With the MSP increase, even more farmers will benefit. Government sources indicate that the funds for the first phase of the 2025 Krishak Bandhu scheme could be credited to farmers’ bank accounts in the first week of March. Farmers who haven’t yet accessed the benefits can head to their local agriculture office to submit the required documents.
Farmers are set to gain a lot from the rise in MSP, including:
1. A noticeable boost in their profit margins.
2. Better chances to sell their crops at a reasonable price.
3. Increased enthusiasm for growing jute.
4. Less risk of crops being sold for low prices.
5. Enhanced government support that will help elevate farmers’ living standards.
