The Union Cabinet today approved increase in Minimum Support Price (MSP) for all Rabi Crops for Marketing Season 2023-24. The highest increase of 500 rupees per quintal for lentil has been cleared. The MPS on wheat has been hiked by 110 rupees per quintal and barley by 100 rupees.
Briefing media after the Union Cabinet meeting in New Delhi, Information and Broadcasting Minister, Anurag Singh Thakur said, on rapeseeds and mustard, the MSP hike is 400 rupees per quintal while on gram it is 105 rupees per quintal. The MSP on safflower has been increased by 209 rupees per quintal.
Mr. Thakur said, with this, the MSP of wheat has gone up from 2 thousand 15 rupees to 2 thousand 125 rupees per quintal, MSP of Barley from one thousand 635 rupees to one thousand 735 rupees, Gram from 5 thousand 230 rupees to 5 thousand 335 rupees while the MSP of Masur will be 6 thousand rupees per quintal from 5 thousand 500 rupees, MSP of Rapeseed and Mustard will be 5 thousand 450 rupees from earlier MSP of 5 thousand 50 rupees and Safflower from 5 thousand 441 rupees to 5 thousand 650 rupees.
The increase in MSP for Rabi Crops for Marketing Season 2023-24 is in line with the Union Budget 2018-19 announcement of fixing the MSP at a level of at lease 1.5 times of the All-India weighted average Cost of Production, aiming at reasonably fair remuneration for the farmers.
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