India: Government hikes wheat MSP by Rs 150 to Rs 2,275 per quintal for 2024-25

Published 2023년 10월 18일

Tridge summary

The government has increased the minimum support price (MSP) of wheat by Rs 150 to Rs 2,275 per quintal for the 2024-25 marketing season, which is the highest increase since the Modi government took office in 2014. The MSP for other rabi crops such as gram, barley, lentil, rapeseed-mustard seed, and safflower has also been raised. The increase in wheat MSP comes ahead of assembly polls in important wheat-growing states and aims to support farmers and enhance food security.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Ahead of the assembly polls in key wheat growing states, the government on Wednesday announced an increase in the minimum support price of wheat by Rs 150 to Rs 2,275 per quintal for the 2024-25 marketing season.This is the highest quantum of increase in MSP. for any marketing season since the Modi government came to power in 2014.Besides, the Minimum Support Price (MSP) for five other rabi crops -- gram, barley, lentil (masur), rapeseed-mustard seed and safflower -- have been hiked. .A decision in this regard was taken at the meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi.Currently, the MSP of wheat stands at Rs 2,125 per quintal for the 2023-24 marketing season (April- March).Wheat is the main Rabi (winter) crop and its sowing begins in October while harvesting starts from April.MSP is the minimum rate at which the grain is purchased by the government procurement agencies.Briefing media after the cabinet meeting, Information & ...

Source: Economic times