Govt Increases MSP For Rabi Crops For 2025-26 Season
Date
10/17/2024 4:07:34 AM
(MENAFN- KNN India)
New Delhi, Oct 17 (KNN) In a significant move to bolster farmer welfare, the Cabinet Committee on Economic Affairs (CCEA) has approved an increase in the Minimum Support Price (MSP) for rabi crops for the 2025-26 marketing season.
The decision, announced on Wednesday, includes a notable rise of Rs 150 per quintal for wheat, elevating its MSP to Rs 2,425 from the previous season's Rs 2,275.
The government has emphasised that the new MSPs for six rabi crops now range between 50 per cent to 105 per cent higher than their respective production costs.
Union Agriculture Minister Shivraj Singh Chouhan highlighted this increase as a testament to the Narendra Modi government's commitment to ensuring remunerative prices for farmers.
Among the crops receiving MSP hikes, rapeseed and mustard saw the most substantial increase of Rs 300 per quintal, reaching Rs 5,950. Lentil (masur) received a boost of Rs 275, bringing its MSP to Rs 6,700 per quintal.
The MSPs for gram, safflower, and barley have also been raised to Rs 5,650, Rs 5,940, and Rs 1,980 per quintal respectively, representing increases of Rs 210, Rs 140, and Rs 130 per quintal.
This decision aligns with the commitment made in the Union Budget 2018-19 to set MSPs at a minimum of 1.5 times the all-India weighted average cost of production.
The government projects that these new prices will provide farmers with margins ranging from 50 per cent for safflower to 105 per cent for wheat over the average production costs.
The administration contends that this enhancement in MSPs will not only ensure fair compensation for farmers but also encourage crop diversification.
This move is expected to have far-reaching implications for the agricultural sector and rural economy in the upcoming rabi season.
(KNN Bureau)
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