Ahead of upcoming Assembly elections, the Union Cabinet on Wednesday determined to lift the Minimum Support Prices (MSP) for all required Rabi crops for the 2024-25 advertising and marketing season. The determination was taken in a gathering which was chaired by Prime Minister Narendra Modi. Notably, the government procures crops from farmers on the assist worth by means of its companies.
The highest enhance in MSP has been permitted for lentil (masur dal) at Rs 425 per quintal adopted by rapeseed and mustard at Rs 200 per quintal. For wheat and safflower, a rise of Rs 150 per quintal every has been permitted. For barley and gram, the MSP has been elevated by Rs 115 per quintal and Rs 105 per quintal respectively.Â
Check the latest MSP of rabi crops
Currently, the MSP of wheat stands at Rs 2,125 per quintal for the 2023-24 advertising and marketing season (April-March). Wheat is the principle rabi (winter) crop and its sowing begins in October whereas harvesting begins from April. The MSP of wheat has been raised to Rs 2,275 per cent quintal for the 2024-25 advertising and marketing season from Rs 2,125 per quintal in 2023-24. The present enhance in wheat MSP is the very best since 2015-16. The earlier enhance was within the vary of Rs 100-110 per quintal introduced for 4 advertising and marketing seasons — 2017-18, 2018-19, 2019-20 and 2023-24.
Among rabi pulses, the MSP of gram has been elevated by Rs 105 to Rs 5,440 per quintal for 2024-25 as in opposition to Rs 5,335 per quintal in 2023-24 whereas that of lentil (masur) has been hiked by Rs 425 to Rs 6,425 per quintal from Rs 6,000 per quintal. In order to advertise oilseed cultivation, the government elevated rapeseed-mustard seed MSP by Rs 200 to Rs 5,650 per quintal for 2024-25 advertising and marketing season, from Rs 5,450 per quintal within the 2023-24 season. The MSP of safflower has been elevated by Rs 150 to Rs 5,800 per quintal for 2024-25 from Rs 5,650 per quintal.Â
Anurag Thakur’s assertion on MSP hike
Addressing the media after the cupboard assembly, Union Minister Anurag Thakur mentioned the cupboard has permitted the rise within the MSP of six mandated rabi crops for the 2024-25 advertising and marketing season. “Based on the Commission for Agricultural Costs and Prices(CACP) recommendation, we have increased the MSP of six rabi crops,” he mentioned. Asked in regards to the influence of wheat MSP enhance on meals inflation, the minister mentioned India has stored the inflation below examine throughout and post-pandemic interval.
It needs to be talked about right here that MSP is the minimal charge at which the grain is bought by the government procurement companies. India has three cropping seasons — Summer, Kharif, and Rabi. Crops which can be sown throughout October and November and the produce harvested from January relying on maturity are Rabi. Crops sown throughout June-July and depending on monsoon rains are harvested in October-November are kharif. Crops produced between Rabi and Kharif are Summer crops.
(With inputs from companies)Â
ALSO READ:Â seventh Pay Commission: Modi Cabinet approves 4% DA hike for government workers
