Cabinet increases MSP for Rabi crops; check the new rates

The Union Cabinet on Tuesday approved the increase of Minimum Support Prices (MSPs) for all Rabi crops for the marketing season 2023-24. Union Minister Anurag Thakur said in a press conference that the increase has been “absolute highest” for lentil (masur) at Rs 500 per quintal.

The MSP for wheat has been increased by Rs 110 from Rs 2,015 in 2022-23 to Rs 2,125 in 2023-24 per quintal, while the MSP for barley has been increased by Rs 100 from Rs 1,635 per quintal to Rs 1,735 per quintal.

The minimum support price for gram has been increased by Rs 105 from Rs 5,230 per quintal to Rs 5,335 per quintal, while safflower MSP has been increased by Rs 209 from Rs 5,441 to Rs 5,650. The MSP for rapeseed and mustard has been increased by Rs 400 from Rs 5,050 to Rs 5,450 per quintal.

The highest increase in MSP has been approved for masur dal, which has increased by Rs 500 from Rs 5,500 to Rs 6,000.  

The Ministry of Agriculture had recommended an increase in MSP of certain Rabi crops after it received the recommendations from the MSP committee. It was then sent to the Union Cabinet for approval.

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