New Delhi: The Cabinet Committee on Economic Affairs today increased the Minimum Support Price (MSP) of rabi crops for marketing season 2024-25, to ensure remunerative prices to the growers for their produce.
The absolute highest increase in MSP has been approved for lentil (masur) at Rs.425 per quintal followed by rapeseed and mustard at Rs.200 per quintal. For wheat and safflower, an increase of Rs.150 per quintal each has been approved.
For barley and gram an increase of Rs.115 per quintal and Rs.105 per quintal respectively, has been approved.
Minimum Support Prices for all Rabi Crops for Marketing Season 2024-25
(Rs.per quintal)
The increase in MSP for mandated rabi crops for marketing season 2024-25 is in line with the Union Budget 2018-19 announcement of fixing the MSP at a level of at least 1.5 times the All-India weighted average cost of production. The expected margin over the All-India weighted average cost of production is 102 per cent for wheat, followed by 98 per cent for rapeseed and mustard, 89 per cent for lentil, 60 per cent for gram, 60 per cent for barley, and 52 per cent for safflower. This increased MSP of rabi crops will ensure remunerative prices to the farmers and incentivise crop diversification.
“The Government is promoting crop diversification towards oilseeds, pulses and shree anna/millets to enhance food security, increase farmers’ income, and reduce dependence on imports. Besides the price policy, the Government has undertaken various initiatives such as the National Food Security Mission (NFSM), Pradhan Mantri Krishi Sinchayee Yojana (PMKSY), and the National Mission on Oilseeds and Oil Palm (NMOOP) with the objective to provide financial support, quality seeds to encourage farmers to cultivate oilseeds and pulses,” a Cabinet note stated.
Moreover, to extend the benefits of the Kisan Credit Card (KCC) Scheme to every farmer across the nation, the Government has launched the Kisan Rin Portal (KRP), KCC Ghar Ghar Abhiyaan, and Weather Information Network Data Systems (WINDS) with the aim to provide timely and accurate weather information “to empower farmers in making timely decisions regarding their crops”.
“These initiatives aim to revolutionize agriculture, enhance financial inclusion, optimize data utilization, and improve the lives of farmers across the nation,” the Cabinet note said.
Meanwhile, today the Ministry of Agriculture and Farmers Welfare released the 2nd Advance Estimates of the area and production of various horticultural crops for the year 2022-23. According to this estimate, total horticulture production in the country is expected to be a record 351.92 million tonnes in the year 2022-23.
Union Minister for Agriculture and Farmers’ Welfare Narendra Singh Tomar said that along with food grains, horticulture is also continuously recording record production in the country.
Highlights of the year 2021-22 (Second Advance Estimates)
• Total horticulture production in the year 2022-23 is estimated to be 351.92 million tonnes, an increase of about 4.74 million tonnes (1.37%) as compared to the year 2021-22 (final).
• Production of fruits, vegetables, plantation crops, flowers and honey is expected to increase.
• Fruit production is estimated to be 108.34 million tonnes in the year 2022-23 as compared to 107.51 million tonnes in the year 2021-22.
• The production of vegetables is estimated to be 212.91 million tonnes in the year 2022-23 compared to 209.14 million tonnes in the year 2021-22.
• Production of plantation crops is estimated to increase from 15.76 million tonnes in 2021-22 to 16.05 million tonnes in 2022-23, which is an increase of about 1.78%.
• Potato production is expected to be 60.54 million tonnes, compared to 56.18 million tonnes in the year 2021-22.
– global bihari bureau