India / Centre raises minimum support price for wheat by 110 including six Rabi crops

New Delhi : Before Diwali, Modi government has given gifts to farmers. The central government on Tuesday approved the minimum support prices for six rabi crops for the 2023-24 season. Taking a big decision, the government has increased the MSP of wheat by Rs 110 and that of barley by Rs 100. In this way the minimum support price of wheat has gone up to Rs 2125 per quintal.

Briefing the media after the meeting of the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi on Tuesday, Union Minister Anurag Thakur said that the MSP of wheat is Rs 110, barley Rs 100, gram Rs 105, lentil Rs 500. MSP of rapeseed and mustard has been increased by Rs 400 and safflower by Rs 209.

What is minimum support price

Minimum Support Price is the rate at which the government buys food grains from farmers. At present, the government fixes the MSP for 23 Kharif and Rabi crops. Sowing of Rabi (winter) crops begins in October, immediately after harvesting of Kharif (summer) crops. Wheat and mustard are the main Rabi crops.

The government in a statement said, “The increase in MSP for Rabi crops for the marketing season 2023-24 is in line with the announcement of the Union Budget 2018-19. In which the MSP has been fixed at the lease level at 1.5 times the all India weighted average cost of production. Its aim is to give fair remuneration to the farmers."

The official statement said, “The priority of the government is to increase the production of oilseeds and pulses and thus fulfill the objective of self-reliant India.