Govt mulls MSP hike for key rabi crops ahead of elections

The proposals by a panel on farm prices await Cabinet approval

- Puja Das

The government may raise the minimum support price (MSP) of six rabi or winter crops, with increases ranging from 2% to 7%, for the 2024-25 marketing season as it gears up for high-stakes general and state assembly elections, two officials said. The most substantial hikes are expected for wheat and lentil (masur), the officials said, requesting anonymity.

MSP serves as a crucial safety net for farmers by guaranteeing them a minimum income regardless of market prices. It also helps ensure food security by encouraging farmers to cultivate certain crops, helping stabilize prices of staples such as wheat, rice and lentils.