MINIMUM SUPPORT PRICES (MSPs) FOR ALL CROPS

The Ministry of Agriculture & Farmers Welfare announced that the Government fixes Minimum Support Prices (MSPs) annually for 22 mandated crops based on the Commission for Agricultural Costs & Prices (CACP) recommendations, after consulting State Governments and central ministries. Since the 2018‑19 Union Budget, MSPs have been raised by at least 50 % above the all‑India weighted average cost of production. Procurement of cereals is done by the Food Corporation of India and state agencies, while pulses, oilseeds and copra are procured under the PM‑AASHA scheme through NAFED and NCCF. From the 2024‑25 season, a Market Intervention Scheme with a Price Differential Payment component and storage‑transport reimbursement for tomato, onion and potato has been introduced. Procurement volumes rose from 6,987 LMT (2004‑14) to 12,819 LMT (2014‑26) and MSP payments increased from Rs 7.41 lakh crore to Rs 27.80 lakh crore.