Govt hikes wheat MSP by Rs 150 to Rs 2,275/quintal

Based on the CACP recommendation, we have increased the MSP of 6 Rabi crops. Wheat MSP has been increased by Rs150 per quintal. 5 other Rabi crops are gram, barley, masur, rapeseed-mustard seed and safflower - Anurag Thakur, I&B Minister

New Delhi: Ahead of the Assembly polls in key wheat growing States, the government on Wednesday announced an increase in the minimum support price of wheat by Rs150 to Rs2,275 per quintal for the 2024-25 marketing season. This is the highest quantum of increase in MSP for any marketing season since the Modi government came to power in 2014. Besides, the Minimum Support Price (MSP) for five other Rabi crops -- gram, barley, lentil (masur), rapeseed-mustard seed and safflower -- have been hiked.

A decision in this regard was taken at the meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi. Currently, the MSP of wheat stands at Rs 2,125 per quintal for the 2023-24 marketing season (April-March). Wheat is the main rabi (winter) crop and its sowing begins in October while harvesting starts from April. MSP is the minimum rate at which the grain is purchased by the government procurement agencies. Briefing media after the cabinet meeting, Information & Broadcasting Minister Anurag Singh Thakur said the CCEA has approved the increase in the MSP of six mandated rabi crops for the 2024-25 marketing season.

“Based on the CACP (Commission for Agricultural Costs and Prices) recommendation, we have increased the MSP of six Rabi crops. Wheat MSP has been increased by Rs150 per quintal,” he said.

The MSP of wheat has been raised to Rs2,275 per cent quintal for 2024-25 marketing season from Rs2,125 per quintal in 2023-24.