New Delhi: The Centre on Tuesday increased the Minimum Support Prices (MSPs) for all Rabi Crops for marketing season 2023-24.
As per the decision of the Union Cabinet that approved the hikes, MSP of wheat are being increased by Rs 110 per quintal, barley by Rs 100 per quintal, gram by Rs 105 per quintal, lentil by 500 per quintal, sunflower by Rs 209 per quintal and rapeseed and mustard by Rs 400 per quintal.
The Ministry of Agriculture had recommended an increase in the MSP of six Rabi Crops including wheat and pulses and had proposed an increase in MSP by up to 9 per cent after receiving the recommendations from the MSP committee. Recommendations were thereafter sent to the union cabinet for final approval.
“The increase in MSP for Rabi Crops for RMS 2022-23 is in line with the Union Budget 2018-19 announcement of fixing the MSPs at a level of at least 1.5 times of the all-India weighted average cost of production, aiming a reasonably fair remuneration for the fanners,” the press release said.
“The expected returns to farmers over their cost of production are estimated to be highest in case of wheat, rapeseed and mustard (100 per cent each), followed by lentil (79 per cent), gram (74 per cent), barley (60 per cent); safflower (50 per cent),” it added
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