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Centre Hikes MSP for 6 Rabi Crops

New Delhi: The Modi led govt on Tuesday raised minimum support prices (MSP) for six rabi crops. This announcement has brought a wave of joy amongst farmers ahead of the Diwali.

The govt will procure lentil (masur), wheat, barley, gram, rapeseed/mustard and safflower at higher prices from farmers during the 2023-24 marketing season, information and broadcasting minister Anurag Thakur said after a meeting of the cabinet committee on economic affairs (CCEA).

As per the announcement, the absolute highest increase in minimum support price has been approved for lentil (masur) at ₹500 per quintal, followed by rapeseed and mustard at ₹400 per quintal. An increase of ₹209 per quintal has been approved for safflower. For wheat, gram and barley, an increase of ₹110 per quintal, ₹105 per quintal, ₹100 per quintal, respectively, has been approved.

This announcement ahead of the Rabi sowing period will act as a boost to farmer sentiments dampened by steep inflation that has raised costs and squeezed margins.

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