Cabinet Approves MSP Hike For Kharif Marketing Season 2024-25

The Union Cabinet approved the increase in the Minimum Support Prices (MSP) for all mandated Kharif Crops for Marketing Season 2024-25.

Government has increased the MSP of Kharif Crops for Marketing Season 2024-25, to ensure remunerative prices to the growers for their produce.

The highest absolute increase in MSP over the previous year has been recommended for oilseeds and pulses viz. nigerseed (Rs.983/- per quintal) followed by sesamum (Rs.632/- per quintal) and tur/arhar (Rs.550/- per quintal).

The increase in MSP for Kharif Crops for Marketing 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 to farmers over their cost of production are estimated to be highest in case of bajra (77%) followed by tur (59%), maize (54%) and urad (52%). For rest of the crops, margin to farmers over their cost of production is estimated to be at 50%.

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