MSP hike of Rabi crops will further energise agriculture sector: PM Modi

Prime Minister Narendra Modi said on Tuesday the hike in the minimum support price of several Rabi crops will further energise the agriculture sector.

The government on Tuesday hiked the minimum support price (MSP) of six Rabi crops by up to 9 per cent, with Rs 110 per quintal increase for wheat crop to boost domestic production and farmers' income.

Wheat MSP has been raised by 5.45 per cent to Rs 2,125 per quintal from Rs 2,015 per quintal to encourage more area under the crop amid tight government stock position owing to low procurement, fall in production and higher exports.

Modi noted that farmers are important partners in the country's development and said the government has approved increase in the MSPs of all essential Rabi crops, including wheat, lentils, and barley.