Cabinet Approves Increased Minimum Support Prices (MSP) for Kharif Crops for 2024-25

The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved an increase in the Minimum Support Prices (MSP) for all mandated Kharif Crops during the Marketing Season 2024-25. The objective is to ensure remunerative prices for farmers. Notably, the highest absolute increase in MSP over the previous year is recommended for oilseeds and pulses, with nigerseed seeing a rise of Rs. 983 per quintal, followed by sesamum (Rs. 632 per quintal) and tur/arhar (Rs. 550 per quintal).

The increase aligns with the Union Budget 2018-19’s commitment to set MSP at least 1.5 times the All-India weighted average cost of production. Bajra, tur, maize, and urad are estimated to have the highest margins over their cost of production.

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