The Union Cupboard has authorised the minimal assist value (MSP) for the rabi advertising season 2022-23. The MSP for wheat was elevated to Rs 2015 per quintal from Rs 1,975 per quintal, a two per cent rise.
It additionally hiked the MSP for mustard seed by Rs 400 to Rs 5,050 per quintal for the present crop 12 months.
A call on this regard was taken at a gathering of the Cupboard Committee on Financial Affairs (CCEA) chaired by Prime Minister Narendra Modi.
This additionally come comes at a time when farmers have been protesting on varied borders of the nationwide capital, demanding repeal of the three legal guidelines and in addition a authorized assure for MSP.
MSP is the speed at which the federal government buys the grain from farmers. At present, the federal government fixes MSPs for 23 crops grown in each kharif and rabi seasons.
The Union Cupboard approves MSP for rabi advertising season 2022-23. Wheat MSP elevated by simply 2% to Rs 2015 per quintal from Rs 1975 per quintal within the final season.@IndianExpress
— Harikishan Sharma (@harikishan1) September 8, 2021
Sowing of rabi (winter) crops begins from October instantly after the harvest of kharif (summer time) crops. Wheat and mustard are main rabi crops.
In line with an official launch, the CCEA has authorised a rise within the MSP for six rabi crops for the 2021-22 crop 12 months (July-June) and 2022-23 advertising seasons.
The price of manufacturing of wheat is estimated at Rs 1,008 per quintal, the discharge mentioned. The federal government procured a document wheat of over 43 million tonne in the course of the 2021-22 rabi advertising season.
(With PTI inputs)