Bhubaneswar, Oct 12 [UDN}:The Central Government has increased the Minimum Support Price (MSP) for various rabi crops, providing a major boost to farmers ahead of the upcoming rabi marketing season.
Union Minister Ashwini Vaishnaw informed that the revised MSPs have been fixed to ensure that farmers receive returns of at least 50% above the cost of production.
Under the revised MSP structure, the MSP for wheat has been increased to ₹2,610 per quintal, while barley will now have an MSP of ₹2,286 per quintal. MSPs for other major rabi crops, including gram, lentil, rapeseed and mustard, have also been increased.
The Centre has set a target to procure around 324 lakh metric tonnes of rabi crops at MSP. As part of the procurement programme, an estimated ₹90,962 crore is expected to reach farmers through MSP payments.
The government said the MSP hike is aimed at ensuring remunerative prices for farmers, encouraging rabi crop production and strengthening agricultural income.
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