Cabinet Hikes Wheat MSP by ₹25 to ₹2,610 Per Quintal for 2027-28
The Union Cabinet has approved a ₹25 per quintal increase in the minimum support price (MSP) of wheat, taking it to ₹2,610 per quintal for the 2027-28 rabi marketing year. This decision was made at a cabinet meeting chaired by Prime Minister Narendra Modi.
Agriculture Minister Ashwini Vaishnaw stated that the production cost of wheat is ₹1,264 per quintal, but MSP has been kept more than double at ₹2,610 per quintal for 2027-28. This increase in MSP is part of a larger package aimed at supporting farmers.
The Cabinet also approved increases in the minimum support prices (MSPs) for several other crops, including barley, gram, masur, rapeseed/mustard seed, and safflower. The total payout to farmers is estimated to be ₹90,962 crore for 324 lakh tonnes in the 2027-28 marketing year.