Minimum Support Prices for all Rabi crops for Marketing Season 2024-25
(Rs.per quintal)
S.No
Crops
MSP RMS
2014-15
MSP RMS 2023-24
MSP RMS 2024-25
Cost* of production RMS 2024-25
Increase in MSP (Absolute)
Margin over cost (in per cent)
1
Wheat
1400
2125
2275
1128
150
102
2
Barley
1100
1735
1850
1158
115
60
3
Gram
3100
5335
5440
3400
105
4
Lentil
(Masur)
2950
6000
6425
3405
425
89
5
Rapeseed
& Mustard
3050
5450
5650
2855
200
98
6
Safflower
3000
5800
3807
52
*Refers to cost which includes all paid out costs such as those incurred on account of hired human labour, bullock labour/machine labour, rent paid for leased in land, expenses incurred on use of material inputs like seeds, fertilizers, manures, irrigation charges, depreciation on implements and farm buildings, interest on working capital, diesel/electricity for operation of pump sets etc., miscellaneous expenses and imputed value of family labour.
The increase in MSP for mandated Rabi 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 over All-India weighted average Cost of Production is 102 percent for wheat, followed by 98 percent for rapeseed & mustard; 89 per cent for lentil; 60 per cent for gram; 60 percent for barley; and 52 percent for safflower. This increased MSP of rabi crops will ensure remunerative prices to the farmers and incentivise crop diversification.
The Government is promoting crop diversification towards oilseeds, pulses and shree anna/millets to enhance food security, increase farmers' income, and reduce dependence on imports. Besides the Price Policy, the Government has undertaken various initiatives such as the National Food Security Mission (NFSM), Pradhan Mantri Krishi Sinchayee Yojana (PMKSY), and the National Mission on Oilseeds and Oil Palm (NMOOP) with the objective to provide financial support, quality seeds to encourage farmers to cultivate oilseeds and pulses.
Moreover, to extend the benefits of the Kisan Credit Card (KCC) Scheme to every farmer across the nation, Government has launched the Kisan Rin Portal (KRP), KCC Ghar Ghar Abhiyaan, and Weather Information Network Data Systems (WINDS) with the aim to provide timely and accurate weather information to empower farmers in making timely decisions regarding their crops. These initiatives aim to revolutionize agriculture, enhance financial inclusion, optimize data utilization, and improve the lives of farmers across the nation.