The Union Cabinet has approved an increase in the minimum support price (MSP) for rabi crops for the 2027-28 marketing season, alongside a Rs 5,548 crore procurement plan for kharif pulses and oilseeds. The decisions are aimed at assuring farmers remunerative prices and boosting domestic output of pulses and oilseeds.
What changes for farmers
The MSP hike covers key winter crops, giving farmers a clearer price signal ahead of sowing. The kharif procurement approval ensures government agencies will buy pulses and oilseeds at support prices, reducing distress sales in mandis.
Push for self-reliance
Officials have framed the move as part of the broader push to cut import dependence in edible oils and pulses. Higher assured prices are expected to nudge acreage toward these crops in the coming seasons.
Market reaction
Farmer groups cautiously welcomed the announcement while urging faster procurement operations on the ground. Attention now shifts to how quickly agencies lift stocks as kharif arrivals pick up pace.
