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, said a CCEA note.
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.
“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. The expected margin over All-India weighted average cost of production is 106 percent for wheat, followed by 96 percent for rapeseed & mustard; 92 per cent for lentil; 59 per cent for gram; 58 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,” said CCEA note.
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 6 Rabi crops during 2014-15 to 2025-26 has increased to 3921 LMT as compared to 2302 LMT during 2004-05 to 2013-14.
The MSP amount paid to Wheat growing famers 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. The MSP amount paid to 6 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.
