Centre okays significant increase in MSP for Rabi crops; check details
New Delhi, October 18: The Union Cabinet, under the leadership of Prime Minister Narendra Modi, has given the green signal to an increase in the Minimum Support Prices (MSP) for all mandated Rabi crops for the 2024-25 marketing season. The government, through its various agencies, purchases crops from farmers at these support prices.
The most significant MSP hike has been approved for lentils (masur dal), with an increase of Rs 425 per quintal, followed by rapeseed and mustard at Rs 200 per quintal.
Wheat and safflower will see a bump of Rs 150 per quintal each, while barley and gram will have their MSPs increased by Rs 115 per quintal and Rs 105 per quintal, respectively.
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The revision in MSP for mandated Rabi crops is in accordance with the Union Budget 2018-19, which aimed to set the MSP at a minimum of 1.5 times the average production cost. An official release stated that this increase in MSP for Rabi crops will ensure profitable prices for farmers and encourage crop diversification.
India observes three distinct cropping seasons: Summer, Kharif, and Rabi. Rabi crops are sown between October and November, with harvests occurring in January based on maturity. Kharif crops, on the other hand, are sown during June-July, dependent on monsoon rains, and are harvested in October-November. The crops produced between Rabi and Kharif seasons are known as Summer crops.
- ANI
