The central government has given farmers a significant gift ahead of the 23rd installment of the PM Kisan Yojana. The government has raised the minimum assured support price of onions to ₹1,650 ...read more

The central government has given a major gift to farmers ahead of the 23rd installment of the PM Kisan Yojana . In fact, the Modi government has increased the minimum assured purchase price of onions. Union Consumer Affairs Minister Prahlad Joshi stated that the changes to the Minimum Assured Purchase Price (MAPP) have been made to ensure farmers receive a fair price for their produce and to make the government procurement system more effective.

Prahlad Joshi, in a post shared on the social media platform "X," said that a detailed review meeting was held with senior officials of the Consumer Affairs Department on various issues related to onion procurement. The meeting discussed measures to protect farmers' interests and strengthen the procurement process.

Onions will be purchased at Rs 1,650 per quintal

The government decided to increase the minimum assured support price (MSP) for onions of storable quality and taking into account current market prices to ₹1,650 per quintal. This revised rate came into effect on June 13.

The government has not only revised procurement prices but also made the pricing system more practical, in line with current market conditions. This will increase the likelihood of farmers receiving better prices for their crops.

The government believes this move will help strengthen the income of onion growers, control price fluctuations in the market, and maintain a balanced supply chain.

MSP is not fixed for onion

It's worth noting that the central government does not declare a formal minimum support price (MSP) for onions, as they are classified as a perishable crop. To protect farmers from price declines, the government purchases onions at the minimum assured purchase price under the Price Stabilization Fund (PSF), thereby protecting them from financial losses.