Central government has approved increase in Rabi Crops MSP 2023-24 or MSP for Rabi Marketing Season 2024-25. People can now check minimum support prices for all mandated rabi crops 2023-24 which are to be marketed in 2024-25. Now the Rabi Crops MSP 2023-2024 are increased in line with the recommendations of Swaminathan Commission.
The highest increase in MSP has been announced for lentil (Rs. 425 per quintal) and rapeseed & mustard (Rs. 200 per quintal) followed by safflower and wheat (Rs. 150 per quintal). For barley and gram, an increase of Rs. 115 and Rs 105 per quintal respectively has been announced. The differential remuneration is aimed at encouraging crop diversification.
Rabi Crops MSP 2023-24 / MSP for RMS 2024-25
Rabi crops are grown in winter and harvested in spring. The new raised Rabi Crops MSP 2023-24 will be applicable for crops to be marketed in Rabi Marketing Season (RMS) 2024-25. This new MSP policy will assure minimum 50% as margin of profit. Increase in Rabi Crops MSP 2023-24 is a major step towards doubling farmer’s income by 2024 & improving their welfare substantively. Here we are providing you the complete table specifying rabi crops 2023-24 minimum support price or MSP for RMS 2024-25.
| Crop | MSP for RMS 2022-23 (Rs. / quintal) | MSP for RMS 2023-24 | MSP for RMS 2024-25 | Cost of production 2023-24 (Rs. / quintal) | Absolute Increase in MSP | Return over cost (%) |
|---|---|---|---|---|---|---|
| Wheat | 2015 | 2125 | 2275 | 1128 | 150 | 102 |
| Barley | 1635 | 1735 | 1850 | 1158 | 115 | 60 |
| Gram | 5230 | 5335 | 5440 | 3400 | 105 | 60 |
| Masur (Lentil) | 5500 | 6000 | 6425 | 3405 | 425 | 89 |
| Rapeseed & Mustard | 5050 | 5450 | 5650 | 2855 | 200 | 98 |
| Safflower | 5441 | 5650 | 5800 | 3807 | 150 | 52 |
Paid Out Costs Included in New Rabi Crops MSP
These new MSPs for Rabi Crops for 2023-24 season or MSP RMS 2024-25 will includes all paid out costs which are incurred by farmers on following things:-
- Hired human labour,
- Bullock labour / machine labour
- Rent incurred for leased in land
- Expenses incurred on material inputs like seeds, fertilizers, manures
- Irrigation charges
- Depreciation on implements and farm buildings
- Interest on working capital
- Diesel / electricity for operation of pump sets
- Inputed value of family labour
The increase in MSP for Rabi crops for marketing season 2024-25 is in line with the principle of fixing the MSPs at a level of at least 1.5 times of the All-India weighted average Cost of Production as announced in Union Budget 2018-19.
Hike in Rabi Crops MSP 2023-24 by Cabinet Committee
For the Rabi crops to be marketed in Rabi Marketing Season 2024-25, the highest increase in MSP is recommended for lentil (Rs. 425 per quintal) and rapeseed & mustard (Rs. 200 per quintal). This Rabi Crops MSP 2023-24 increase is followed by safflower (Rs. 150 per quintal) to raise the income of farmers. MSP of wheat is increased by Rs. 150 per quintal and Barley MSP raised by Rs. 115 per quintal. The least increase is observed for the Gram Crops which is raised by Rs. 105 per quintal.
Expected Returns to Farmers Over Cost of Production
The expected margin over All-India weighted average Cost of Production is 102% for wheat, followed by 98% for rapeseed & mustard; 89% for lentil; 60% for gram; 60% for barley; and 52% for safflower. This increased MSP of rabi crops will ensure remunerative prices to the farmers and incentivise crop diversification
Modi Govt. Regularly Working on Raising MSP of Rabi Crops
Concerted efforts were made over the last few years to realign the MSPs in favour of oilseeds, pulses and coarse cereals to encourage farmers shift to larger area under these crops and adopt best technologies and farm practices, to correct demand – supply imbalance.
Additionally, National Mission on Edible Oils-Oil Palm (NMEO-OP), Centrally Sponsored Scheme recently announced by the government, will help in increasing the domestic production of edible oils and reduce imports dependency. With the total outlay of Rs. 11,040 crore, the scheme will not only aid in expanding area and productivity of the sector, but also benefit the farmers by increasing their income and generation of additional employment.
Procurement of Rabi Crops at MSP in RMS 2024-25
Food Corporation of India (FCI) and other state agencies will continue to provide price support to farmers in case of cereals. The respective state govt’s are going to take procurement of coarse grains with approval from central government. Moreover, the state govt. will even distribute entire procured quantity under NFSA. Govt. will provide subsidy for quantity issued under NFSA. The government has set up a buffer stock of pulses and domestic procurement of pulses is also being done under Price Stabilization Fund (PSF).
NAFED, SFAC and other central govt. agencies will continue to undertake procurement of pulses and oilseeds. The losses suffered by nodal agencies may be fully reimbursed by the central government as per the guidelines.
PM Kisan Samman Nidhi Yojana (PM-KISAN)
To ensure income security of farmers, central govt. has shifted its focus from production-centric approach to income-centric one. For this purpose, the Union govt. had increased coverage of PM Kisan Samman Nidhi Yojana (PM-KISAN) to all farmers. In this scheme, all the farmers with no limit on land holding are getting Rs. 6000 per year in 3 equal installments.
For more details, visit the official website at https://farmer.gov.in/mspstatements.aspx