Rabi Crops MSP: Before Diwali, the Centre Raises MSP for Rabi Crops to Support Farmers
Rabi Crops MSP: Before Diwali, the Centre Raises MSP for Rabi Crops to Support Farmers
On Wednesday, October 16, the central government announced an increase in the Minimum Support Price (MSP) for Rabi crops. This decision aims to ensure that farmers receive fair prices for their produce.
The announcement was made during a meeting of the Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi. This increase in MSP is considered a significant gift for farmers ahead of Diwali, providing them with hope for better prices for their crops.
The government stated that the increase in MSP is based on estimates provided by the Commission for Agricultural Costs and Prices. Union Minister Ashwini Vaishnaw mentioned, “The prices should be at least 50 percent higher than the production costs.” As a result, the MSP for major Rabi crops, such as wheat, mustard, and pulses, has been raised. For instance, the MSP for mustard has increased by ₹300 to ₹5,950 per quintal, while the price for lentils has gone up by ₹275 to ₹6,700 per quintal.
This Minimum Support Price (MSP) system provides financial security to farmers. It ensures that they do not face economic distress if the prices of their crops suddenly drop. Additionally, it plays a crucial role in maintaining food security. The recent revisions in MSP also include increases for wheat, barley, and chickpeas, enabling farmers to receive better prices for their products.
