New Delhi : The reduction of the Goods and Services Tax (GST) slabs has given huge relief to farmers, Union Minister Shivraj Singh Chouhan said on Saturday, highlighting that farmers are saving a decent amount in agricultural equipment, including tractors.
“Just now, after reducing the GST on agricultural machines, a big relief to farmers has been given; around Rs 23,000 will be saved on small tractors. For a 35-hp tractor, approximately Rs 43,000 will be saved. For larger tractors, approximately Rs 65,000 will be saved. Different equipment has been made cheaper”, the Union Agriculture and Farmers Welfare Minister said while addressing a program at the Indian Agricultural Research Institute in New Delhi.
The Union Minister further praised Prime Minister Narendra Modi for keeping farmers’ welfare at the forefront, and remembered the government’s uncompromising stance on protecting farmers’ welfare amid tariffs from the United States.
“Prime Minister, we thank you for keeping farmers’ welfare at the top. That is why you had announced from this stage itself that there will be no compromise on the interest of farmers”, the Union Agriculture and Farmers Welfare Minister said during the program.
Further highlighting the Centre’s initiative to increase Minimum Support Price (MSP) for Rabi crops, with the sowing season starting, Chouhan said, “By increasing the MSP, the Prime Minister has ensured that farmers get the right and full price for their produce. We are thankful to the PM because under the PM-KISAN Samman Nidhi, so far Rs 3 lakh 90,000 crore has been deposited in the accounts of farmers through DBT (Direct Benefit Transfer).”
The Central government has approved the MSP for Rabi Marketing Season (RMS) 2026-27, with procurement estimated at 297 Lakh Metric Tonnes (LMT), and farmers to receive about Rs 84,263 crore at MSP, according to an official statement from the government on Friday.
The RMS 2026-27, margins over the cost of production peak at 109 per cent for wheat. Notably, over 100 per cent production of tur (arhar), urad, masoor will be procured upto 2028-29, with 2.46 LMT tur already procured by March, 2025.
While the farmers work tirelessly in their fields, uncertainties in weather and markets can wipe out their gains, including through unseasonal rains, droughts, or floods. Additionally, volatile market prices can push farmers into distress sales, forcing them to sell at rates far below the cost of production. (ANI)
