New Delhi: The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi today approved the increase in the Minimum Support Prices (MSP) for all mandated Rabi Crops for Marketing Season 2023-24.
A CCEA stated that the increase in the MSP of Rabi Crops was to ensure remunerative prices to the growers for their produce. The absolute highest increase in MSP was approved for lentils (Masur) at Rs.500 per quintal followed by rapeseed and mustard at Rs.400 per quintal. For safflower, an increase of Rs.209 per quintal was approved. For wheat, gram and barley an increase of Rs.110 per quintal, and Rs.100 per quintal respectively was approved.
MSP for all Rabi Crops for Marketing Season 2023-24
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 least 1.5 times of the All-India weighted average Cost of Production, aiming at reasonably fair remuneration for the farmers. The maximum rate of return is 104 per cent for rapeseed & mustard, followed by 100 per cent for wheat, 85 per cent for lentils; 66 per cent for gram; 60 per cent for barley; and 50 per cent for safflower.
Oilseeds production has increased from 27.51 million tonnes in 2014-15 to 37.70 million tonnes in 2021-22 (4th advance estimates). Pulses production has shown a similar increasing trend.
In the case of pulses, productivity has increased from 728 kg/ha (2014-15) to 892 kg/ha (4th Advance estimates, 2021-22) i.e. 22.53% increase. Similarly, in oilseed crops productivity has increased from 1075 kg/ha (2014-15) to 1292 kg/ha (4thAdvance estimates, 2021-22).
The Government’s priority is on increasing the production of oilseeds and pulses and thus fulfilling the objective of Atmanirbhar Bharat. The CCEA stated that the formulated strategies are to increase production through area expansion, productivity through High Yielding Varieties (HYVs), MSP support and procurement.
– global bihari bureau
