New Delhi: The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, on Wednesday approved the increase in the Minimum Support Prices (MSP) for all mandated Rabi crops for Marketing Season 2027-28.
The highest increase in MSP has been announced for safflower at Rs 675 per quintal, followed by rapeseed and mustard at Rs 413 per quintal.
For lentil (Masur), barley, gram, and wheat, there is an increase of Rs 390 per quintal, Rs 136 per quintal, Rs 83 per quintal, and Rs 25 per quintal, respectively, according to an official statement.
The government increased the MSP of Rabi Crops for Marketing Season 2027-28 to ensure remunerative prices to the growers for their produce.
The statement further said that the increase in MSP for mandated Rabi Crops for Marketing Season 2027-28 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.
In recent years, the government has been promoting the cultivation of crops, other than cereals, such as pulses and oilseeds, by offering a higher MSP for these crops.
The procurement of wheat during 2014-15 to 2025-26 has increased to 3715 LMT as compared to 2254 LMT during 2004-05 to 2013-14.
The procurement of six Rabi crops during 2014-15 to 2025-26 has increased to 3,921 LMT as compared to 2302 LMT during 2004-05 to 2013-14.
The MSP amount paid to wheat-growing farmers during 2014-15 to 2025-26 has increased to Rs 7.31 lakh crore as compared to Rs 2.56 lakh crore during 2004-05 to 2013-14.
Moreover, the MSP amount paid to six Rabi crops growing farmers during 2014-15 to 2025-26 has increased to Rs 8.36 lakh crore as compared to Rs 2.65 lakh crore during 2004-05 to 2013-14.
(IANS)
