Cabinet’s nod to raise MSP for rabi crops will make farm sector more ‘energetic’, says Prime Minister Narendra Modi

Cabinet's nod to raise MSP for rabi crops will make farm sector more 'energetic', says Prime Minister Narendra Modi

Synopsis

Our farmer brothers and sisters are important partners in the development of the nation. To further empower them, the government today approved increase in MSP of all essential Rabi crops including wheat, lentils, gram and barley. This decision will make the agriculture sector more energetic, Modi wrote on Twitter.

India’s Prime Minister Narendra Modi said Tuesday the cabinet’s approval to raise the minimum support price (MSP) for all mandated rabi crops for marketing season 2023-24 will make the agriculture sector more ‘energet.

Our farmer brothers and sisters are important partners in the development of the nation. To further empower them, the government today approved increase in MSP of all essential Rabi crops including wheat, lentils, gram and barley. This decision will make the agriculture sector more energetic, Modi wrote on Twitter.

MSP is the rate at which the government buys grain from farmers. Currently, the government fixes MSPs for 23 crops grown in both Kharif and rabi seasons.

The MSP for lentil (Masur) has seen the highest increase of Rs 500 per quintal. Rapeseed and Mustartd has been increased by Rs 400.

MSP on wheat has been increased by Rs 110 to Rs 2,125 per quintal for this crop year from Rs 2,015 per quintal in the 2021-22 crop year.

The cost of production of wheat is estimated at Rs 1,065 per quintal.

Sowing of rabi (winter) crops begins in October, immediately after the harvest of kharif (summer) crops. Wheat and mustard are major rabi crops.

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