The government on Wednesday hiked the minimum support price for wheat by Rs 85 to Rs 1,925 a quintal and for pulses by up to Rs 325 per quintal.
A decision in this regard was taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA), headed by Prime Minister Narendra Modi.
The MSP is the rate at which the government buys grains from farmers.
"In a move to increase farmers' income, the Cabinet has increased the MSP of rabi (winter-sown) crops for the current year," Information and Broadcasting Minister Prakash Javadekar told reporters after the meeting.
The CCEA