The central government on Wednesday, October 16 increased the minimum support price (MSP) of 6 Rabi crops. The highest increase was made in mustard and oilseeds by Rs 300.
Wheat price was increased by Rs 150 per quintal. In this way the minimum support price of wheat has become Rs 2,425 per quintal. The MSP of barley, gram, lentils and safflower has also been increased. This decision was taken in the cabinet meeting.
Rabi crops are sown at the time of retreating monsoon (October-November). These crops are usually harvested during the summer season in April. These crops are not much affected by rain. The major Rabi crops are wheat, gram, peas, mustard and barley.
The least increase was in barley
| Crop | New MSP Rs/quintal | Old MSP Rs/quintal | Difference |
| Wheat | ₹2,425 | ₹2,275 | ₹150 |
| barley | ₹1,980 | ₹1,850 | ₹130 |
| Gram | ₹5,650 | ₹5,440 | ₹210 |
| lentils | ₹6,700 | ₹6,425 | ₹275 |
| mustard-oilseeds | ₹5,950 | ₹5,650 | ₹300 |
| Safflower | ₹5,940 | ₹5,800 | ₹140 |
What is MSP or Minimum Support Price? Minimum support price is the guaranteed price that farmers get for their crops. Even if the prices of that crop are low in the market. The logic behind this is that the fluctuations in crop prices in the market should not affect the farmers. They should continue to get the minimum price.
The government decides the MSP on the recommendation of the Commission for Agricultural Costs and Prices (CACP) before every crop season. If there is a bumper production of a crop and its market prices are low, then MSP acts as a fixed assured price for them. In a way, it works like an insurance policy to protect farmers when prices fall.
MSP includes 23 crops:
- 7 types of grains (paddy, wheat, maize, millet, jowar, ragi and barley)
- 5 types of pulses (gram, arhar/tur, urad, moong and lentils)
- 7 Oilseeds (rapeseed-mustard, groundnut, soybean, sunflower, sesame, safflower, nigerseed)
- 4 commercial crops (cotton, sugarcane, copra, raw jute)
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There may be an increase in dearness allowance of central employees: it may increase from 50% to 53%.
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Graphics Source: VaskarAssets
