India, May 13 -- The Union Cabinet on Wednesday approved the minimum support prices (MSP) for 14 Kharif crops for the 2026-27 marketing season, with a payout of Rs.2.60 lakh crore to farmers. The decision was taken based on the recommendations of the Commission for Agricultural Costs and Prices (CACP).

The government in a press release said that the increase in MSP for Kharif crops is in line with the Union Budget 2018-19 announcement of fixing MSP at least 1.5 times the all-India weighted average cost of production.

According to the government, the estimated margin over cost of production is highest for moong at 61%, followed by bajra and maize at 56% each, and tur/arhar at 54%. For the remaining crops, the margin is estimated at 50%....