To ensure remunerative prices for growers, the Cabinet Committee on Economic Affairs has approved the increase in the Minimum Support Prices (MSP) for all mandated Rabi Crops for Marketing Season 2023-24. Lentil (Masur) has seen the highest increase in MSP at Rs.500/- per quintal, followed by rapeseed and mustard at Rs.400/- per quintal. For safflower, an increase of Rs.209/- per quintal has been approved, while for wheat, gram and barley, an increase of Rs.110/- per quintal, Rs.100 per quintal, respectively, has been approved.
The increase in MSP for Rabi Crops is in line with the Union Budget 2018-19 announcement of fixing the MSP at a level of at least 1.5 times the all-India weighted average Cost of Production, aiming at reasonably fair remuneration for the farmers. The maximum rate of return is 104 percent for rapeseed & mustard, followed by 100 percent for wheat, 85 per cent for lentil; 66 per cent for gram; 60 per cent for barley; and 50 per cent for safflower.
According to the Government, the focus is on increasing the production of oilseeds and pulses, with strategies to increase production through area expansion, productivity through High Yielding Varieties (HYVs), MSP support and procurement. The Government is also promoting smart farming methods, through the use of technology and innovation, implementing a Digital Agriculture Mission (DAM), which includes India Digital Ecosystem of Agriculture (IDEA), Farmers Database, Unified Farmers Service Interface (UFSI), Revamping Mahalanobis National Crop Forecast Centre (MNCFC), soil health, fertility and profile mapping.
Under the NeGPA programme, the Centre is providing funding to State Governments for Digital Agriculture projects using emerging technologies like Artificial Intelligence and Machine Learning (AI/ML), Internet of Things (IOT), Block chain etc. Adoption of drone technologies is being done. To promote smart farming, the Government is also promoting Startups in the Agriculture sector and nurtures agri-entrepreneurs.