The Indian Union Cabinet and the Cabinet Committee on Economic Affairs (CCEA) are poised to address a series of significant economic proposals in their upcoming meeting. Key items on the agenda include a potential hike in the Minimum Support Price (MSP) for Rabi crops, the approval of the ambitious Green Energy Corridor-III project, and an extension of the targeted LPG cylinder subsidy for beneficiaries of the Pradhan Mantri Ujjwala Yojana (PMUY).
Rabi Crop MSP Hike Expected for 2027-28
Sources indicate that the CCEA is likely to approve an increase in the MSP for six crucial Rabi crops for the Rabi Marketing Season (RMS) 2027-28. These crops include wheat, barley, gram, masur (lentil), rapeseed-mustard, and safflower. The government typically announces MSPs ahead of the sowing season to provide vital price support and ensure fair returns for farmers.
For the preceding RMS 2026-27, the MSPs were set at ₹2,585 per quintal for wheat, ₹2,150 for barley, ₹5,875 for gram, ₹7,000 for masur, ₹6,200 for rapeseed-mustard, and ₹6,540 per quintal for safflower. The impending revisions aim to further strengthen agricultural income and incentivize production.
Green Energy Corridor-III Project on the Anvil
Another major proposal awaiting Cabinet consideration is the next phase of the Green Energy Corridor project, designated as Green Energy Corridor-III. This ambitious initiative is estimated to involve an outlay of approximately ₹54,000 crore, slated for the financial years 2027 to 2033. The project is crucial for enhancing India's renewable energy infrastructure and facilitating the transmission of green energy across the nation, supporting the country's climate goals.
Ujjwala LPG Subsidy Extension for Current Fiscal
The Cabinet is also expected to deliberate on extending the targeted LPG cylinder subsidy for PMUY beneficiaries for the current financial year. This subsidy is designed to offer financial relief to economically vulnerable households and promote the sustained use of LPG as a cleaner cooking fuel, moving away from traditional, less healthy alternatives. Under the scheme, eligible Ujjwala beneficiaries receive a direct subsidy on LPG refills, effectively reducing the cost of cooking gas for these families.