How does minimum support price help in food security? Who are food insecure people?
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Minimum Support Price is the price at which government purchases crops from the farmers, whatever may be theprice for the crops. Minimum Support Price is an important part of India's agricultural price policy. The MSP helps to motivate the framers and thus ensures adequate food grains production in the country. Those people who are not able to get their one time meal enough to satisfy their hunger are considered as food insecure people.
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1) Minimum Support Price is the price at which the farmer can sell their products government or others.
2) This is decided by government every year during reaping time by considering the cost of production and nominal profit of farmer.
3) Traders or government have to purchase agricultural products at this price or more.
4) MSP provides minimum guarantee to the value of crops and farmers can sell crops at more prices according to demand.
5) This prevent traders syndicate of reducing price.
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