What is the Minimum Support Price (MSP)?
MSP is a form of market intervention by Center to insure agricultural producers against any sharp fall in farm prices (especially in bumper production years).
They are announced at the beginning of the sowing season for certain crops on the basis of the recommendations of Commission for Agricultural Costs and Prices (CACP).
The major objectives are to support the farmers from
MSP for Agriculture crops 2021-22
The policies of the Government of India and decisions taken in recent years towards farmers’ welfare have resulted in significant improvement in food grain production and sustained agriculture growth despite the COVID-19 pandemic.
The Cabinet Committee on Economic Affairs (CCEA) chaired by the Hon'ble Prime Minister Shri Narendra Modi has approved the increase in the Minimum Support Prices (MSP) on 8th September 2021 for all designated Rabi cr
Minimum Support Prices (MSP): Detail Explanation
Recently, the Minimum Support Prices (MSP) for all required rabi crops for the marketing season 2023–2024 were raised with the approval of the Cabinet Committee on Economic Affairs, which is chaired by the Prime Minister.
MSP increase for the wheat crop: Rs 110 per quintal (5.46%) more.
Other rabi crops, including rapeseed, mustard, safflower, gramme, and lentil (masur), have increased by 2.01 to 9.09 per cent.