Govt hikes MSP of Rabi crops for marketing season 2021-22
The government on Monday announced an increase in the Minimum Support Prices (MSPs) for all mandated Rabi crops for marketing season 2021-22. The decision was taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi and was announced by Agriculture Minister Narendra Singh Tomar in Lok Sabha.
The government on Monday announced an increase in the Minimum Support Prices (MSPs) for all mandated Rabi crops for marketing season 2021-22.
The decision was taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi and was announced by Agriculture Minister Narendra Singh Tomar in Lok Sabha.
Tomar said that the CCEA has approved increasing MSP of six rabi crops. Wheat MSP has been increased by Rs 50 per quintal to Rs 1,975 per quintal and that for barley has been hiked by Rs 75 per quintal to Rs 1,600 per quintal.
The highest increase in MSP has been announced for lentil by Rs 300 per quintal followed by gram and rapeseed & mustard by Rs 225 per quintal each and safflower Rs 112 per quintal.
The increase in MSP for Rabi Crops for marketing season 2021-22 is in line with the principle of fixing the MSPs at a level of at least 1.5 times of the All-India weighted average Cost of Production as announced in Union Budget 2018-19.
The expected returns to farmers over their cost of production are estimated to be highest in case of Wheat (106%) followed by rapeseed & mustard (93%), gram and lentil (78%). For barley, return to farmers over their cost of production is estimated at 65% and for safflower, it is 50%, the government release said.
The announcement comes amid widespread protests by Opposition parties as also by farmer groups in Punjab, Haryana and some other states after Parliament passed two key farm bills on Sunday.
The Farmers' Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020 and The Farmers (Empowerment and Protection) Agreement of Price Assurance and Farm Services Bill, 2020 were passed by Parliament.
The government says the bills will give farmers marketing freedom and better price for their produce.
First Published: Sept 21, 2020 2:52 PM IST
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