"Constantly taking big decisions for welfare of our farmer": PM Modi hails cabinet's nod to MSP hike
Oct 16, 2024
New Delhi [India], October 16 : Prime Minister Narendra Modi on Wednesday hailed the cabinet's decision to increase the Minimum Support Price (MSP) for all mandated Rabi crops for the marketing season 2025-26, saying that the government is constantly taking big decisions for the welfare of farmers in the country.
According to a government release, the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi, has approved the increase in the Minimum Support Prices (MSP) for all mandated Rabi Crops to ensure remunerative prices to the growers for their produce.
"We are constantly taking big decisions for the welfare of our farmer brothers and sisters. In this direction, today our government has increased the MSP of mandatory Rabi crops, including wheat and gram, for the marketing season of 2025-26. This will make the life of our food providers easier," Prime Minister Modi said in a post on X.
The government has increased the MSP of Rabi Crops to ensure remunerative prices to the growers for their produce. The absolute highest increase in MSP has been announced for Rapeseed and Mustard at Rs 300 per quintal followed by Lentil (Masur) at Rs 275 per quintal.
The decision was announced on Wednesday by Union Minister Ashwini Vaishnaw after the Cabinet meeting held today. For gram, wheat, safflower and barley, there is an increase of Rs 210 per quintal, Rs150 per quintal, Rs140 per quintal and Rs130 per quintal respectively.
The increase in MSP for mandated Rabi Crops for Marketing Season 2025-26 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.
The expected margin over all-India weighted average cost of production is 105 percent for wheat, followed by 98 percent for rapeseed & mustard; 89 per cent for lentil; 60 per cent for gram; 60 percent for barley; and 50 percent for safflower. This increased MSP of rabi crops will ensure remunerative prices to the farmers and incentivise crop diversification.
