TMI BlogCabinet approves Minimum Support Prices (MSP) for Rabi Crops for Marketing Season 2024-25X X X X Extracts X X X X X X X X Extracts X X X X ..... Cabinet approves Minimum Support Prices (MSP) for Rabi Crops for Marketing Season 2024-25 - News and Press Release Dated:- 18-10-2023 - News - The Cabinet Committee on Economic Affairs, chaired by the Hon ble Prime Minister Shri Narendra Modi, has approved the increase in the Minimum Support Prices (MSP) for all mandated Rabi Crops for Marketing Season 2024-25. Government has increased the M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... SP of Rabi Crops for Marketing Season 2024-25, to ensure remunerative prices to the growers for their produce. The absolute highest increase in MSP has been approved for lentil (masur) at Rs.425 per quintal followed by rapeseed mustard at Rs.200 per quintal. For wheat and safflower, an increase of Rs.150 per quintal each has been approved. For barley and gram an increase of Rs.115 per quintal an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d Rs.105 per quintal respectively, has been approved. Minimum Support Prices for all Rabi crops for Marketing Season 2024-25 ( Rs. per quintal) S.No Crops MSP RMS 2014-15 MSP RMS 2023-24 MSP RMS 2024-25 Cost* of production RMS 2024-25 Increase in MSP (Absolute) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Margin over cost (in per cent) 1 Wheat 1400 2125 2275 1128 150 102 2 Barley 1100 1735 1850 1158 115 60 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Gram 3100 5335 5440 3400 105 60 4 Lentil (Masur) 2950 6000 6425 3405 425 89 5 Rapeseed Mustard 30 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 50 5450 5650 2855 200 98 6 Safflower 3000 5650 5800 3807 150 52 * Refers to cost which includes all paid out costs such as those incurred on account of hired human labour, bull ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ock labour/machine labour, rent paid for leased in land, expenses incurred on use of 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 etc., miscellaneous expenses and imputed value of family labour. The increase in MSP for mandated Rabi Crops for Market ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing Season 2024-25 is in line with the Union Budget 2018-19 announcement of fixing the MSP at a level of at least 1.5 times of the All-India weighted average Cost of Production. The expected margin over All-India weighted average Cost of Production is 102 percent for wheat, followed by 98 percent for rapeseed mustard; 89 per cent for lentil; 60 per cent for gram; 60 percent for barley; and 52 p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ercent for safflower. This increased MSP of rabi crops will ensure remunerative prices to the farmers and incentivise crop diversification. The Government is promoting crop diversification towards oilseeds, pulses and shree anna/millets to enhance food security, increase farmers' income, and reduce dependence on imports. Besides the Price Policy, the Government has undertaken various initi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... atives such as the National Food Security Mission (NFSM), Pradhan Mantri Krishi Sinchayee Yojana (PMKSY), and the National Mission on Oilseeds and Oil Palm (NMOOP) with the objective to provide financial support, quality seeds to encourage farmers to cultivate oilseeds and pulses. Moreover, to extend the benefits of the Kisan Credit Card (KCC) Scheme to every farmer across the nation, Governmen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t has launched the Kisan Rin Portal (KRP), KCC Ghar Ghar Abhiyaan, and Weather Information Network Data Systems (WINDS) with the aim to provide timely and accurate weather information to empower farmers in making timely decisions regarding their crops. These initiatives aim to revolutionize agriculture, enhance financial inclusion, optimize data utilization, and improve the lives of farmers across ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the nation. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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