Union cabinet hikes MSP for rabi crops

The union cabinet on Wednesday approved a hike in minimum support prices (MSP) for rabi crops in a bid to encourage diversification in production. The MSPs have been aligned in favour of oilseeds, pulses and coarse cereals. The MSP for wheat has been increased by Rs 40 to Rs 2,015 per quintal and by Rs 400 to Rs 5,050 per quintal for mustard seed in the current crop year. Government has increased the MSP of rabi crops for the 2022-23 rabi marketing season to ensure remunerative prices to the growers for their produce," the official release said.

The increase in MSP of rabi crops will ensure remunerative prices for farmers, according to the government. "The Cabinet Committee on Economic Affairs (CCEA) chaired by the  Prime Minister Narendra Modi has approved the increase in the Minimum Support Prices (MSP) for all mandated rabi crops for rabi Marketing Season (RMS) 2022-23,” said an official statement. The MSP of barley has been hiked by Rs 35 to Rs 1,635 per quintal for the 2021-22 crop year from Rs 1,600 per quintal in the previous year. Among the pulses, the MSP for gram has been increased by Rs 130 to Rs 5,230 per quintal and that of lentil (masur) has been hiked by Rs 400 to Rs 5,550 per quintal. Meanwhile, the MSP for safflower has been raised by Rs 114 to Rs 5,441 per quintal from Rs 5,327 per quintal.

The statement said, “Concerted efforts were made over the last few years to realign the MSPs in favour of oilseeds, pulses and coarse cereals to encourage farmers shift to larger area under these crops and adopt best technologies and farm practices, to correct demand — supply imbalance.”