Increase in Minimum Support Prices (MSP) for Rabi Crops in 2024-25
The Cabinet Committee on Economic Affairs, led by Prime Minister Narendra Modi, has approved an increase in the Minimum Support Prices (MSP) for Rabi Crops for the Marketing Season 2024-25. This decision aims to ensure fair prices for farmers and encourage crop diversification.
Wheat: The MSP for wheat has increased by Rs. 150 per quintal, reaching Rs. 2275 per quintal for the 2024-25 season. This provides a 102% margin over the cost of production.
Safflower: Safflower’s MSP has risen by Rs. 150 per quintal, reaching Rs. 5800 per quintal, with a 52% margin over the cost of production.
S.No | Crops | MSP RMS 2024-25 | Cost of Production RMS 2024-25 | Increase in MSP (Absolute) | Margin over Cost (in %) |
---|---|---|---|---|---|
1 | Wheat | Rs. 2275 | Rs. 1128 | Rs. 150 | 102% |
2 | Barley | Rs. 1850 | Rs. 1158 | Rs. 115 | 60% |
3 | Gram | Rs. 5440 | Rs. 3400 | Rs. 105 | 60% |
4 | Lentil (Masur) | Rs. 6425 | Rs. 3405 | Rs. 425 | 89% |
5 | Rapeseed | & Mustard | Rs. 5650 | Rs. 2855 | Rs. 200 |
6 | Safflower | Rs. 5800 | Rs. 3807 | Rs. 150 | 52% |
Find More News on Economy Here
Procter & Gamble (P&G) has announced that Shailesh Jejurikar, its current Chief Operating Officer, will…
The Indian Space Research Organisation (ISRO) is set to launch the highly anticipated NASA-ISRO Synthetic…
India took another significant step in enhancing its coastal defense and maritime surveillance capabilities with…
The Defence Research and Development Organisation (DRDO) has successfully conducted two consecutive flight tests of…
A powerful earthquake measuring 8.7 magnitude struck off Russia’s Kamchatka Peninsula early 30th July (Wednesday),…
India’s concert economy is rapidly emerging as a powerful driver of employment and economic growth,…