Vibha Sharma
New Delhi, October 18
The Union Cabinet on Tuesday approved a hike in the Minimum Support Price (MSP) of rabi crops, including wheat, barley, masoor and gram, for the 2023-24 marketing season.
The MSP of wheat, the main rabi crop, has been increased by Rs 110 per quintal — from Rs 2,015 in 2022-23 to Rs 2,125 in 2023-24.
The Ministry of Agriculture had recommended an increase in MSP by up to 9 per cent after recommendation from the MSP committee.
The MSP of barley has been increased by Rs 100 per quintal, gram by Rs 105 per quintal, lentil by Rs 500 per quintal, sunflower by Rs 209 per quintal and rapeseed and mustard by Rs 400 per quintal.
The hike, which critics said, was less than the inflation rate, came amid lower stocks of wheat and rising prices.
Officials said if the support price were increased according to the inflation rate, it would only trigger more inflation. Farmers have dismissed the increase as “paltry” keeping in mind the input costs.
