New Delhi: The Union government announced an increase in the Minimum Support Prices (MSP) for all required Rabi crops for the 2024-25 marketing season. The decision was taken in the Union Cabinet meeting which was chaired by Prime Minister Narendra Modi.
The MSP of wheat was increased by Rs 150. This is the highest hike in MSP prices since Narendra Modi became the prime minister of the country in 2014. The highest increase in MSP has been approved for lentil (masur dal) at Rs 425 per quintal. It is followed by rapeseed and mustard at Rs 200 per quintal. For safflower an increase of Rs 150 per quintal has been approved. For barley and gram, the MSP has been increased by Rs 115 per quintal and Rs 105 per quintal respectively.
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The minimum support price is the lowest rate at which the government procures crops from farmers.
The MSP of wheat has been raised to Rs 2,275 per cent quintal for the 2024-25 marketing season from Rs 2,125 per quintal in 2023-24. The MSP of gram has been increased by Rs 105 to Rs 5,440 per quintal for 2024-25 while that of lentil (masur) has been hiked by Rs 425 to Rs 6,425 per quintal. The government increased rapeseed-mustard seed MSP by Rs 200 to Rs 5,650 per quintal for 2024-25 marketing season. The MSP of safflower has been increased by Rs 150 to Rs 5,800 per quintal for 2024-25.
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