| Govt hikes wheat MSP to Rs 2,125/qtl, mustard Rs 5,450/qtl | | | agencies
NEW DELHI, Oct 18: The government on Tuesday hiked the minimum support price for wheat by Rs 110 to Rs 2,125 per quintal and mustard by Rs 400 to Rs 5,450 per quintal for the current crop year to boost the production and income of the farmers.
The decision to increase the MSPs (minimum support prices) of six rabi crops was taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi.
MSP is the rate at which the government buys grain from farmers. Currently, the government fixes MSPs for 23 crops grown in both the Kharif and rabi seasons.
Sowing of rabi (winter) crops begins in October, immediately after the harvest of kharif (summer) crops. Wheat and mustard are major rabi crops.
According to an official release, the CCEA has approved an increase in MSPs for six rabi crops for the 2022-23 crop year (July-June) and the 2023-24 marketing season (April-March).
The absolute highest increase in MSP has been approved for lentil (Masur) by Rs 500 per quintal, followed by rapeseed and mustard by Rs 400 per quintal, it said.
Wheat MSP has been increased by Rs 110 to Rs 2,125 per quintal for this crop year from Rs 2,015 per quintal in the 2021-22 crop year.
The cost of production of wheat is estimated at Rs 1,065 per quintal, the release said.
Briefing media, Information and Broadcasting Minister Anurag Thakur said the government has ensured a 100 per cent return over the cost of production in the case of wheat and mustard.
Whereas in the other four rabi crops, it is between 50 to 85 per cent return over cost of production, he added.
Asked if the hike in MSP of rabi crops would lead to food inflation, the minister said the inflation in India is under control in comparison with other countries.
The support price of barley was hiked by Rs 100 to Rs 1,735 per quintal for the 2022-23 crop year from Rs 1,635 per quintal in the previous year.
Among pulses, the MSP for gram has been increased by Rs 105 to Rs 5,335 per quintal from Rs 5,230 per quintal, while for lentil (Masur), it was hiked by Rs 500 to Rs 6,000 per quintal from Rs 5,500 per quintal.
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