India: Govt hikes wheat MSP by Rs 150/quintal at Rs 2,425 ahead of state polls

Published 2024년 10월 16일

Tridge summary

The Indian government has announced an increase in the Minimum Support Price (MSP) for wheat and other rabi crops for the 2025-26 marketing season, with wheat seeing a rise of Rs 150 to Rs 2,425 per quintal. This decision, approved by the Cabinet Committee on Economic Affairs and led by Prime Minister Narendra Modi, is intended to support farmers and enhance domestic production. The MSP for rapeseed and mustard seed increased by Rs 300, with other crops like safflower, lentil, gram, and barley also receiving hikes. Although the announcement precedes elections in several states, the government denies any electoral motives. These MSP adjustments are in line with the 2018-19 Union Budget's promise to set support prices at least 1.5 times the cost of production, aiming to provide fair prices for farmers and promote crop diversification.

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Original content

New Delhi, Oct 16 (PTI) The government on Wednesday increased the Minimum Support Price (MSP) for wheat by Rs 150 to Rs 2,425 per quintal for the 2025-26 marketing season, a move that comes ahead of key state elections. The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved price hikes for six rabi crops, with increases ranging from Rs 130 to Rs 300 per quintal for the 2025-26 marketing season beginning April 2025. Reacting to the Cabinet decision, Modi said his government has been making big decisions continuously for the welfare of farmers. The rise in MSP will make the lives of farmers easier. He highlighted that the new wheat MSP is 105 per cent higher than the cost of production, calling it “a big thing.” The government also raised the MSP for rapeseed and mustard seed by Rs 300 to Rs 5,950 per quintal, aiming to boost domestic oilseed production and reduce edible oil imports. The support price for safflower increased by Rs 140 to ...

Source: Theprint