The Indian government has unveiled a significant increase in the minimum support price (MSP) for wheat, just before crucial assembly elections in key wheat-producing states. The Cabinet Committee on Economic Affairs, led by Prime Minister Narendra Modi, approved a raise of Rs 150, setting the MSP at Rs 2,275 per quintal for the upcoming 2024-25 marketing season. This move, the most substantial increment since the Modi administration took office in 2014, applies to all mandated rabi crops. Information and Broadcasting Minister Anurag Thakur announced this decision, emphasizing that MSP ensures farmers are paid fairly for their produce, with government procurement agencies only acquiring grains above this set price.
This decision holds immense significance for farmers, especially those cultivating wheat, the primary winter crop sowed in October and harvested in April. The increased MSP not only serves as a protective measure for farmers’ interests but also plays a strategic role in the political landscape, given the proximity of the announcement to the upcoming assembly polls. By bolstering support for wheat farmers, the government aims to address agricultural concerns and garner favor in these crucial regions. This move aligns with the government’s broader efforts to enhance agricultural welfare and secure the support of farming communities, shaping the political narrative in the lead-up to the elections.