India, May 14 -- The Union Cabinet on Wednesday approved the increase in 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).

According to an official release, 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...