Government Hikes MSP for Kharif Crops for 2024-25 Marketing Season

Government Hikes MSP for Kharif Crops for 2024-25 Marketing Season

Daily Current Affairs / Government Hikes MSP for Kharif Crops for 2024-25 Marketing Season

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Category : Miscellaneous Published on: June 21 2024

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The MSP for most Kharif crops has seen a substantial increase compared to the previous season (2023-24). For example, Tur/Arhar has an increase of Rs. 550 per quintal, Ragi has increased by Rs. 444 per quintal, and Sunflower seed by Rs. 520 per quintal.
Bajra has the highest margin over the cost of production at 77%, followed by Tur/Arhar at 59%, Maize at 54%, and Urad at 52%. The rest of the crops have a margin of 50% over their cost of production.
The government has adhered to its 2018-19 budget announcement, ensuring that the MSP for each crop is at least 1.5 times the All-India weighted average cost of production.
This policy aims to provide a reasonable profit margin to farmers and encourage agricultural productivity.
MSP has been differentiated for various grades within the same crop. For example, the MSP for Paddy Common is Rs. 2300 per quintal, while for Paddy Grade A, it is Rs. 2320 per quintal.
Similarly, for Jowar, the MSP is differentiated between the Hybrid (Rs. 3371 per quintal) and Maldandi (Rs. 3421 per quintal) varieties.
This distinction helps in catering to the quality variations and market demand for different grades of crops.

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