22. What is meant by Minimum Support Price (MSP)?
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The minimum support price (MSP) is an agricultural product price, set by the Government of India to purchase directly from the farmer. ... By definition, this rate is to safeguard the farmer to a minimum profit for the harvest, if the open market has lesser price than the cost incurred.
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the minimum support price is an agricultural product price, set by the government of India to purchase directly from the farmers
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