The Centre today (23 October 2019) increased the MSP or minimum support price for wheat by Rs 85 to Rs 1,925 a quintal & pulses by up to Rs 325 per quintal, according to official sources. A decision in this regard was taken at the Cabinet Committee on Economic Affairs (CCEA) meeting, which was headed by Prime Minister Narendra Modi.
The CCEA has approved the minimum support price of all rabi or winter crops for the 2019-20 crop year as proposed by the government's farm price advisory body, CACP, sources added.
It must be noted that MSP is the rate at which the government purchases grains from the farmers.
Sources told that the CCEA has approved Rs 85 / quintal increase in wheat MSP to Rs 1,925 / quintal for the 2019-20 rabi crop, which is up from Rs 1,840 / quintal last year.
MSP of Barley has also been hiked by Rs 85 to Rs 1,525 / quintal for the current year from previous Rs 1,440 per quintal.
In order to encourage cultivation of pulses, the MSP of masoor (dal) has been increased by Rs 325 to Rs 4,800 / quintal for the current crop year from Rs 4,475 / quintal last year.
Likewise, the minimum support price of gram has been increased by Rs 255 to Rs 4,875 / quintal for this year from previous year's Rs 4,620 per quintal.
Among oilseeds, rapeseed/ or mustard minimum support price has been hiked by Rs 225 to Rs 4,425 / quintal for 2019-20 rabi crop from Rs 4,200 / quintal in 2018-19.
The MSP of safflower has been increased by Rs 270 to Rs 5,215 / quintal for the current year from Rs 4,945 / quintal last year.
It must be noted that wheat, is the main rabi crop and its sowing will start next month (November). The crop will be marketed from April 2020 onwards.
