By whom is the minimum support price declared every year
Answers
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The idea behind MSP is to give guaranteed price and assured market to the farmers and protect them from the price fluctuations and market imperfections. ... Further, with the globalization resulting in freer trade in agricultural commodities, it is very important to protect the farmers and their interest.
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Hi no
Answered by
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By the Government.
Explanation:
- Minimum support price is the price that is decided by the government in order to deter the exploitation of farmers or producers. Basically, it is the price on which farmer sell their grains to the government.
- Moreover, government revise this support price after a certain period of time after evaluating the economic condition of the country.
Learn More:
What is minimum support price?
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