MSP for All Rabi Crops Increased_00.1
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MSP for All Rabi Crops Increased

 

 

Relevance

  • GS 3: Issues related to direct and indirect farm subsidies and minimum support prices

 

Context

  • Cabinet Committee on Economic Affairs (CCEA) has approved the increase in the Minimum Support Prices (MSP) for all mandated Rabi crops for Rabi Marketing Season (RMS) 2022-23.

 

Key points

  • Government has increased the MSP of Rabi crops for RMS 2022-23, to ensure remunerative prices to the growers for their produce.
  • The highest absolute increase in MSP has been recommended for Lentil (Masur) and Rapeseeds & Mustard followed by gram.
  • In case of safflower, there has been an increase of Rs.114 per quintal, in comparison to last year.
  • The differential remuneration is aimed at encouraging crop diversification.
  • The increase in MSP for Rabi crops for RMS 2022-23 is in line with the Union Budget 2018-19 announcement of fixing the MSPs at a level of at least 1.5 times of the all-India weighted average cost of production, aiming a reasonably fair remuneration for the fanners.
  • The expected returns to farmers over their cost of production are estimated to be highest in case of wheat and rapeseed & mustard (100% each), followed by lentil (79%); gram (74%); barley (60%); safflower (50%).

 

MSP for All Rabi Crops Increased_50.1

 

Recent related steps by government

  • 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.
  • “Pradhan Mantri Annadata Aay SanraksHan Abhiyan’ (PM-AASHA) announced by the government in 2018 will aid in providing remunerative return to farmers for their produce.
    • The Umbrella Scheme consists of three sub-schemes Price Support Scheme (PSS), Price Deficiency Payment Scheme (PDPS) and Private Procurement & Stockist Scheme (PPSS) on a pilot basis.

 

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