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Cabinet increase MSP for Rabi crops for marketing season 2022-23

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New Delhi, Sep 08: The Cabinet has increased the minimum support prices (MSP) for Rabi crops for the marketing season 2022-23. The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi.

Cabinet increase MSP for Rabi crops for marketing season 2022-23

Government has increased the MSP of Rabi crops for RMS 2022-23, to ensure remunerative prices to the growers for their produce. The highest absolute increase in MSP over the previous year has been recommended for Lentil (Masur) and Rapeseeds & Mustard (Rs.400 per quintal each) followed by gram (Rs.130 per quintal). In case of safflower, there has been an increase of Rs.114 per quintal, in comparison to last year. The differential remuneration is aimed at encouraging crop diversification, a release from the CCEA read.

The increase in MSP for Rabi Crops for RMS 2022-23 is in line with the Union Budget 2018-19 announcement of fixing the MSPs at a level of at least 1.5 times of the all-India weighted average cost of production, aiming a reasonably fair remuneration for the fanners. The expected returns to farmers over their cost of production are estimated to be highest in case of wheat and rapeseed & mustard (100% each), followed by lentil (79%); gram (74%); barley (60%); safflower (50%).

Concerted efforts were made over the last few years to realign the MSPs in favour of oilseeds, pulses and coarse cereals to encourage farmers shift to larger area under these crops and adopt best technologies and farm practices, to correct demand - supply imbalance.

Additionally, National Mission on Edible Oils-Oil Palm (NMEO-OP), Centrally Sponsored Scheme recently announced by the government, will help in increasing the domestic production of edible oils and reduce imports dependency. With the total outlay of Rs.11,040 crore, the scheme will not only aid in expanding area and productivity of the sector, but also benefit the farmers by increasing their income and generation of additional employment.

The Umbrella Scheme "Pradhan Mantri Annadata Aay SanraksHan Abhiyan' (PM-AASHA) announced by the government in 2018 will aid in providing remunerative return to farmers for their produce. The Umbrella Scheme consists of three sub-schemes i.e. Price Support Scheme (PSS), Price Deficiency Payment Scheme (PDPS) and Private Procurement and Stockist Scheme (PPSS) on a pilot basis.

MSPs for Rabi crops:

Cabinet increase MSP for Rabi crops for marketing season 2022-23

Highlights of the Cabinet meeting:

  • Cabinet has given its approval to PLI Scheme worth Rs 10,683 crore package in textile. The package has been approved for 10 different products for a period of five years. The PLI scheme will provide direct benefit to over 7.5 lakh people
  • Scheme will pave the way for participation of women in large numbers
  • Priorities to be given to those companies setting up units in aspirational districts. Scheme will positively impact especially States like Gujarat, UP, Maharashtra, Tamil Nadu, Punjab, AP, Telangana, Odisha etc.
  • Two category identified for PLI Scheme in textile: a) investment upto 100 crore investment upto 300 crore
  • India is now the second largest maker of PPE. The government is committed towards the textile sector and is holding continued deliberations with stakeholders.
  • India is also working on Free Trade Agreements (FTAs) with Western countries like the UK, EU and the UAE.
  • Union Cabinet approves MSP for rabi crore for marketing season 2022-23
  • Union Cabinet approves highest ever fair and remunerative price of Rs 290/quintal for sugarcane farmers.
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