Committed to welfare of farmer! Cabinet increases MSP for Rabi crops for marketing season 2022-23
08 Sep 2021 16:15:47
The Cabinet Committee on Economic Affairs on Wednesday approved increase in minimum support price (MSP) for rabi crops for 2022-23 rabi marketing season (RMS). The highest absolute increase in MSP over the previous year has been recommended for lentil (masur) and rapeseeds and mustard at Rs 400 per quintal each, followed by gram at Rs 130 per quintal. The MSP for rapeseed and mustard will be Rs 5,050 per quintal in RMS 2022-23, while that for lentil (masur) will be Rs 5,500 and for gram Rs 5,230 per quintal
While MSP for safflower has been increased by Rs 114 per quintal to Rs 5,441, that for wheat and barley has been hiked by Rs 40 and Rs 35 per quintal, respectively. The MSP for wheat will be Rs 2,015 per quintal and Rs 1,635 for one quintal of barley.
"The increase in MSP for rabi crops for RMS 2022-23 is in line 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 a reasonably fair remuneration for the farmers," the government said in a release.
The expected returns to farmers over their cost of production are estimated to be highest in case of wheat and rapeseed and mustard at 100 per cent each, followed by lentil at 79 per cent, gram at 74 per cent; barley at 60 per cent and safflower at 50 per cent, it said.
The government said it has made concerted efforts over the last few years to realign MSPs in favour of oilseeds, pulses and coarse cereals to encourage farmers to shift to larger area under these crops and adopt best technologies and farm practices, to correct demand-supply imbalance. The increase in MSP along with the recently announced National Mission on Edible Oils-Oil Palm will not only aid in expanding area and productivity but also benefit the farmers by increasing their income and generating additional employment.