New Delhi: Prime Minister Narendra Modi on Tuesday said that the decision to hike the minimum support price of several Rabi crops will further energise the agricultural sector.
The government on Tuesday hiked the minimum support price (MSP) of six Rabi crops by up to 9 per cent. With the increase, wheat’s new MSP will be Rs 2,125 per quintal as opposed to the previous RS 2,025 per quintal.
PM Modi, in a tweet in Hindi, said: “Our farmer brothers and sisters are important partners in the development of the nation. To further empower them, the government today approved increase in MSP of all essential Rabi crops including wheat, lentils, gram and barley. This decision will make the agriculture sector more energetic.”
राष्ट्र के विकास में हमारे किसान भाई-बहन अहम भागीदार हैं। उन्हें और सशक्त बनाने के लिए सरकार ने आज गेहूं, मसूर, चना और जौ सहित सभी अनिवार्य रबी फसलों की एमएसपी में वृद्धि को मंजूरी दी है। ये निर्णय कृषि क्षेत्र को और अधिक ऊर्जावान बनाएगा।https://t.co/eEV6gvFsPx
---Advertisement---— Narendra Modi (@narendramodi) October 18, 2022
How much MSP increased?
The best price increase for whole wheat from 2020–21 was 5.46 percent during the marketing year 2023–24.
The MSP prices 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 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 government statement 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.
The government added that its Rs 11,040 crore National Mission on Edible Oils-Oil Palm (NMEO-OP) will help in increasing the domestic production of edible oils and reduce dependency on imports.
