‘Constantly taking big decisions for welfare of farmer’: PM Modi hails cabinet’s nod to MSP hike

NEW DELHI: Prime Minister Narendra Modi on Wednesday hailed the cabinet’s decision to increase the Minimum Support Price (MSP) for all mandated Rabi crops for the marketing season 2025-26, saying that the government is constantly taking big decisions for the welfare of farmers in the country.

According to a government release, the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi, has approved the increase in the Minimum Support Prices (MSP) for all mandated Rabi crops to ensure remunerative prices to the growers for their produce.

“We are constantly taking big decisions for the welfare of our farmer brothers and sisters. In this direction, today our government has increased the MSP of mandatory Rabi crops, including wheat and gram, for the marketing season of 2025-26. This will make the life of our food providers easier”, Prime Minister Modi said in a post on X.

अपने किसान भाई-बहनों के कल्याण के लिए हम निरंतर बड़े फैसले लेने में जुटे हैं। इसी दिशा में आज हमारी सरकार ने 2025-26 के मार्केटिंग सीजन के लिए गेहूं और चना सहित अनिवार्य रबी फसलों की एमएसपी को बढ़ाया है। इससे हमारे अन्नदाताओं का जीवन और आसान होगा।https://t.co/SkUPftW3CC

— Narendra Modi (@narendramodi) October 16, 2024

The government has increased the MSP of Rabi crops to ensure remunerative prices to the growers for their produce. The absolute highest increase in MSP has been announced for rapeseed and mustard at Rs 300 per quintal followed by lentil (masur) at Rs 275 per quintal.

The decision was announced on Wednesday by Union Minister Ashwini Vaishnaw after the Cabinet meeting held today. For gram, wheat, safflower and barley, there is an increase of Rs 210 per quintal, Rs 150 per quintal, Rs 140 per quintal and Rs 130 per quintal, respectively.

The increase in MSP for mandated Rabi crops for marketing season 2025-26 is in line with the Union Budget 2018-19 announcement of fixing the MSP at a level of at least 1.5 times of the all-India weighted average cost of production.

The expected margin over all-India weighted average cost of production is 105 percent for wheat, followed by 98 percent for rapeseed and mustard; 89 per cent for lentil; 60 per cent for gram; 60 per cent for barley; and 50 per cent for safflower. This increased MSP of rabi crops will ensure remunerative prices to the farmers and incentivise crop diversification. (ANI)