New Delhi: The Union government hiked the minimum support price (MSP) for 6 crops. The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, decided to raise the MSPs. The decision was taken to boost the production and income of farmers.
The MSP is the price the government pays farmers for their grain. The government currently sets MSPs for 23 crops farmed through the Rabi and Kharif (summer) seasons. The harvesting of Rabi (winter) crops begins in October. Wheat and mustard are the main rabi crops.
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The CCEA has approved an increase in MSPs for 6 rabi crops for 2022–23 (July–June) and the marketing season 2023–24. CCEA hiked the MSP of wheat to Rs 2,125 from Rs 2,015 per quintal. The MSP for mustard is increased by Rs 400 to Rs 5,450 per quintal.
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