MSP for All Rabi Crops Increased

Editor1 Oct 17 2021 Current Affairs

  • Cabinet Committee on Economic Affairs (CCEA) has approved the increase in the Minimum Support Prices (MSP) for all mandated Rabi crops for Rabi Marketing Season (RMS) 2022-23.    
  • Key points

    • Government has increased the MSP of Rabi crops for RMS 2022-23, to ensure remunerative prices to the growers for their produces.
    • The highest absolute increase in MSP has been recommended for Lentil (Masur) and Rapeseeds & Mustard followed by gram.
    • In case of safflower, there has been an increase of Rs.114 per quintal, in comparison to last year.
    • The differential remuneration is aimed at encouraging crop diversification.
    • The increase in MSP for Rabi crops for RMS 2022-23 is in alignment with the Union Budget 2018-19 announcement of fixing the MSPs at a level of at least 1.5 times of the all-India weighted average cost of production, aiming for a reasonably fair remuneration for the farmers.
    • The expected returns to farmers over their cost of production are estimated to be highest in case of wheat and rapeseed & mustard (100% each), followed by lentil (79%); gram (74%); barley (60%); safflower (50%).

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