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Diwali Bonanza For Farmers: PM Modi-Led Cabinet Announces Decision To Hike MSP For Rabi Crop
Wheat farmers in India. (Bharat Bhushan/Hindustan Times via Getty Images)
In a Diwali gift to farmers, the government on Wednesday (23 October) increased the minimum support price (MSP) of Rabi crops.
The decision was taken by the Cabinet chaired by Prime Minister Narendra Modi. Information Minister Prakash Javedkar told reporters here that to increase farmers' incomes, the cabinet has decided to hike the MSP for Rabi crops for the marketing season 2020-21.
As per the decision, the MSP of wheat has been increased by Rs 85 per quintal. The new rate of wheat is Rs 1,925 per quintal.
The MSP of barley has also been increased by Rs 85 per quintal. The new rate of barley is Rs 1,525 per quintal.
The rates of rapeseed and mustards have both been increased by Rs 225 to bring the new price to Rs 4,425 per quintal.
In making the move to benefit all categories of farmers, the MSP of gram has been increased to Rs 255 per quintal and the new rate is Rs 4,875 per quintal.
The safflower MSP has been increased by Rs 270 and the new MSP is Rs 5,215 per quintal.
The MSP of lentil is increased by Rs 325 and the new rate is Rs 4,800 per quintal.
India has two major crop seasons -- Rabi and Kharif. The Rabi crops are sown from October to March and harvested in and around April. Wheat is the major Rabi crop.
(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)
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