New Delhi: The Union Cabinet on Wednesday approved Minimum Support Prices (MSP) for Kharif Crops for marketing season 2024-25. Providing information about the Cabinet decision on MSP, Union Information and Broadcasting Minister Ashwini Vaishnaw said the highest absolute increase in MSP over the previous years has been recommended for oilseeds and pulses.
"Government has increased the MSP of Kharif Crops for marketing season 2024-25, to ensure remunerative prices to the growers for their produce. The highest absolute increase in MSP over the previous year has been recommended for oilseeds and pulses on Nigerseed (Rs 983 per quintal) followed by sesamum (Rs 632 per quintal) and tur/arhar (Rs 550 per quintal)," Vaishnaw said.
The increase in MSP for Kharif Crops is in line with the Union Budget 2018-19 announcement of fixing the MSP at a level of at least 1.5 times of All-India weighted average cost of production, the Minister said.
The expected margin to farmers over their cost of production is estimated to be highest in the case of bajra (77 per cent) followed by tur (59 per cent), maize (54 per cent) and urad (52 per cent). For the rest of the crops, the margin to farmers over their cost of production is estimated to be at 50 per cent, the minister said.
