Govt hikes minimum support prices for Rabi crops

19 Oct 2024

Govt hikes minimum support prices for Rabi crops
1

The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved an across-the-board increase in the minimum support prices (MSP) for all eligible Rabi crops for the 2025-26 marketing season.

A cabinet note said the increase in MSP is intended to ensure remunerative prices to the growers for their produce. 

The cabinet recommended the highest increase in MSP of Rs300 per quintal for rapeseed and mustard, followed by lentil (masur) at Rs275 per quintal. 

MSP for gram, wheat, safflower and barley have been increased by Rs210 per quintal, Rs150 per quintal, Rs140 per quintal and Rs130 per quintal, respectively.

Minimum Support Prices for all crops are fixed by adding 50 per cent of the cost of production of thecrop concerned.

MSP for RMS 2025-26 (Rs per quintal)

Crops MSP

Wheat 2,425 

Barley 1,980 

Gram 5,650 

Lentil 6,700 

Rapeseed/Mustard 5,950 

Safflower 5,940 

Cost of production includes all paid out costs, including those on account of hiring human labour, machine or bullock rent on leased in land, cost of inputs like seeds, fertilisers/manure, irrigation charges, depreciation on implements and farm buildings, interest on working capital, diesel/electricity for operation of pump sets as also miscellaneous expenses and imputed value of family labour.

The Union Budget 2024-25 has mandated MSP of 1.5 times the cost of production of Rabi crops for the 2025-26 marketing season. 

However, the MSP for for rapeseed and mustard has been fixed with a 98 per cent margin, lentil with 89 per cent margin, gram with 60 per cent margin, barley with 60 per cent margin and safflower with 50 per cent margin. 

The increased MSP of rabi crops while ensuring remunerative prices to growers, will also support crop diversification, says a cabinet release.

Latest articles

Americans need minimum annual income of $107,700 to afford a house, says new study

Americans need minimum annual income of $107,700 to afford a house, says new study

Indian Hotels to double property and revenues by 2030

Indian Hotels to double property and revenues by 2030

India and Russia: a strategic economic partnership

India and Russia: a strategic economic partnership

NTPC Green Energy's Rs10,000-cr IPO opens for subscription

NTPC Green Energy's Rs10,000-cr IPO opens for subscription

Nissan Motor India starts exports of new Magnite SUV to South Africa

Nissan Motor India starts exports of new Magnite SUV to South Africa

Finance minister wants banks to tame lending rates

Finance minister wants banks to tame lending rates

Tatas to buy majority stake in Pegatron’s iPhone facility in Tamil Nadu: report

Tatas to buy majority stake in Pegatron’s iPhone facility in Tamil Nadu: report

Aditya Birla Group to double cement capacity to 200 million tonnes in 10 years

Aditya Birla Group to double cement capacity to 200 million tonnes in 10 years

EU draft rules make data disclosure mandatory for AI companies

EU draft rules make data disclosure mandatory for AI companies

Business History Videos

History of hovercraft Part 3 | Industry study | Business History

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2 | Industry study | Business History

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1 | Industry study | Business History

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | Industry study | Business History

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more
View details about the software product Informachine News Trackers