Kerala Budget 2024: Relief for rubber plantation owners; MSP for rubber raised to Rs 180

In the ongoing Kerala Budget 2024 session, finance minister K N Balagopal announced that the MSP for rubber will be raised to Rs 180. The current price of the rubber is Rs 170.

Aishwarya Nair

First Published Feb 5, 2024, 11:21 AM IST

Thiruvananthapuram: A reassuring decision has been made by the Kerala government for the state's hill farmers. It was expected that the rubber support price would increase, and this was confirmed by Finance Minister KN Balagopal's declaration. The demands made by Christian churches, farmers' organisations, and the Kerala Congress (M) were granted. The Minimum Support Price (MSP) for rubber in the budget for the upcoming fiscal year will be Rs 180.

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In the Kerala budget for 2024-25, the support price of rubber has been increased in the state. The support price was increased by Rs 10 to Rs 180. Currently, the support price is Rs 170. The government has announced a nominal increase in the support price in the budget.

There was a demand to raise the support price to at least Rs 200. The government's move to raise the rupee to Rs 180, though not to Rs 200, will be touted by the Left as the ultimate bailout in the wake of the financial crisis. This decision will be crucial in constituencies dominated by hill farmers as the Lok Sabha elections are around the corner.

The help of the central government has been requested to increase the current support price from 170 rupees to 250 rupees, but it has not been heeded so far. Minister K.N. Balagopal said that the state is increasing the support price.

A total of Rs 1698 crore has been earmarked for the agriculture sector in the budget. Rs 65 crore has been earmarked for coconut development and Rs 4.6 crore for the spice sector. Rs 2 crore will be allocated for increasing crop productivity, Rs 36 crore for the establishment of the Kuttanad agri development project; Rs 78.45 cr for pesticide-free vegetables; Rs 93.6 cr for paddy production.

The minister also stated that Kerala is the only government that is intervening to solve the crisis faced by the rubber farmers.

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Last Updated Feb 5, 2024, 11:21 AM IST