Finance Minister Announces Boost for Farmers in 2024 Budget

New Delhi, Jul 23 (KNN) Finance Minister Nirmala Sitharaman unveiled a significant measure to support India's agricultural sector in her 2024 Union Budget speech. The minister announced that farmers will receive a minimum support price (MSP) with a 50% margin above their production costs.

This move aims to ensure fair compensation for farmers and improve their financial stability. The increased MSP is expected to cover various crops, providing a safety net for agricultural producers across the country.

The announcement comes as part of the government's ongoing efforts to strengthen the agricultural sector and improve rural livelihoods. It is likely to be welcomed by farmer organizations who have long advocated for better price support.

Experts suggest that this policy could have far-reaching effects on agricultural production, rural economies, and food prices. However, the full impact of this measure will become clearer as more details emerge and implementation begins.

(KNN Bureau)