Cabinet opens ₹2.79 lkh cr purse for wheat & wheels

The Union Cabinet recently approved a substantial allocation of ₹2.79 lakh crore to support key initiatives in agriculture, renewable energy, and urban traffic management. Union Minister Ashwini Vaishnaw unveiled the decisions at the Cabinet meeting. The total value of these three major announcements amounted to Rs 2,79,157 crore.

The largest allocation, amounting to Rs 1,86,405 crore, is dedicated to the PM DHARA (Developing Harmonized and Accelerated Renewable Energy Access) initiative. This program aims to promote the growth and accessibility of renewable energy sources in India. Additionally, the government has approved Rs 1,790 crore for an Intelligent Traffic Management System (ITMS) in the National Capital Territory of Delhi, which is expected to improve traffic flow and congestion across regions such as Delhi, Noida, Gurgaon, and neighboring areas.

Another significant decision involves the Rabi Price Policy for the Rabi Marketing Season 2027-28. The policy is set to provide an estimated payout of Rs 90,962 crore to farmers growing six major crops: wheat, barley, gram, lentil (masoor), rapeseed-mustard, and safflower. The government has revised the Minimum Support Prices (MSP) for these crops based on projected cost of production and margin over cost. The revised MSP rates for the 2027-28 season are as follows:

- Wheat: Rs 2,610 per quintal (106% margin over cost)

- Barley: Rs 2,286 per quintal (58% margin over cost)

- Gram: Rs 5,958 per quintal (59% margin over cost)

- Lentil (Masoor): Rs 7,390 per quintal (92% margin over cost)

- Rapeseed-Mustard: Rs 6,613 per quintal (96% margin over cost)

- Safflower: Rs 7,215 per quintal (50% margin over cost)

The implementation of these three decisions is expected to significantly impact the agricultural sector, promote renewable energy access, and enhance urban traffic management in the capital.