New Delhi, Sep 21 (UNI) The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, on Monday approved the increase in the Minimum Support Prices (MSPs) for all mandated Rabi crops for marketing season 2021-22. This increase in MSP is in line with the recommendations of Swaminathan Commission, an official statement said here.
In view of nutritional requirements and changing dietary pattern and to achieve self-sufficiency in pulses and oilseeds production, the Government has fixed relatively higher MSP for these crops.
The highest increase in MSP has been announced for lentil (Rs 300 per quintal), followed by gram and rapeseed and mustard (Rs 225 per quintal each) and safflower (Rs 112 per quintal).
For barley and wheat, an increase of Rs 75 per quintal and Rs 50 per quintal, respectively has been announced.
The differential remuneration is aimed at encouraging crop diversification.
The increase in MSP for Rabi Crops for marketing season 2021-22 is in line with the principle of fixing the MSPs at a level of at least 1.5 times of the All-India weighted average Cost of Production, as announced in the Union Budget 2018-19.
The expected returns to farmers over their cost of production are estimated to be highest in case of Wheat (106 per cent), followed by rapeseed and mustard (93 per cent), gram and lentil (78 per cent).
For barley, return to farmers over their cost of production is estimated at 65 per cent and for safflower, it is 50 per cent.
Support is in the form of MSP, as well as procurement. In case of cereals, the Food Corporation of India (FCI) and other designated state agencies would continue to provide price support to the farmers.
The government has set up a buffer stock of pulses and domestic procurement of pulses is also being done under the Price Stabilisation Fund (PSF).
The Umbrella Scheme ‘Pradhan Mantri AnnadataAaySanraksHan Abhiyan’ (PM-AASHA), comprising Price Support Scheme (PSS), Price Deficiency Payment Scheme (PDPS), and pilot Scheme of Private Procurement and Stockist Scheme (PPSS), will aid in procurement of pulses and oilseeds.