Centre approves MSP on 14 Kharif crops, 1.5 times more than production cost

The Union Cabinet on Wednesday, chaired by Prime Minister Narendra Modi, approved the Minimum Support Price (MSP) on 14 Kharif crops.

“Government has increased the MSP of Kharif Crops for Marketing Season 2024-25, to ensure remunerative prices to the growers for their produce,” a release from the Agriculture Ministry said.

The highest increase in MSP has been recommended for oilseeds and pulses, namely nigerseed (increase of Rs 983 per quintal), followed by sesamum (increase of Rs.632 per quintal) and Arhar dal (increase of Rs 550 per quintal), it said.

The MSP on Nigerseed has been increased to Rs 8,717 from Rs 5,811, while the MSP on Sesamum has increased to Rs 9,267 from Rs 6,178 and the MSP on Arhar dal has increased to Rs 7,550 from Rs 4,761.

The MSP on Paddy has been increased to Rs 2,300 from Rs 1,533, while the MSP on Jowar has risen to Rs 3,371 from Rs 2,247.

Announcing the cabinet decision, Union Information and Broadcasting Minister Ashwini Vaishnaw said, “With today’s decision, the farmers will get around Rs 2 lakh crore as MSP. This is Rs 35,000 crore more than the previous season.”