New Delhi: Union Minister Anurag Thakur announced on Tuesday that the government has decided to increase the Minimum Support Price (MSP) for all Rabi crops for marketing season 2023-24, including wheat and barley. Prices of both crops have been increased by Rs 110 per quintal each. The price of Masur dal has been increased by Rs 500 per quintal.
#Cabinet approves Minimum Support Prices for all Rabi Crops for Marketing Season 2023-24; absolute highest increase in MSP approved for lentil (Masur) at Rs.500/- per quintal#CabinetDecisions pic.twitter.com/FHihRcEV6b
— Office of Mr. Anurag Thakur (@Anurag_Office) October 18, 2022
The price of mustard has been increased by Rs 209 per quintal, that of Safflower by 209 per quintal and gram 105 per quintal.
Minimum Support Price or MSP is the price at which government buys certain crops from farmers to prevent them from facing a sharp fall in prices.