Expenditure on Minimum Support Prices tripled over last decade

A latest official press update stated that the procurement of foodgrains has grown steadily in recent years, increasing from 761.40 lakh metric tonnes in 201415 to 1,175 lakh metric tonnes in 2024-25 (from July to June). This expansion benefitted 1.84 crore farmers. The expenditure incurred on procurement at MSP values more than tripled, rising from Rs 1.06 lakh crore to Rs 3.33 lakh crore over the same period. The benefits of enhanced procurement at MSP have directly translated into wider farmer coverage and higher income support. The number of farmers benefitting from MSP procurement increased from 1.63 crore in 202122 to 1.84 crore during 2024-25 (from July to June).

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