Social Sciences, asked by Fayaz4455, 11 months ago

how does minimum support price protect the farmer

Answers

Answered by sunil1241

Answer:

Minimum Support Price (MSP) is a form of market intervention by the Government of India to insure agricultural producers against any sharp fall in farm prices. ... MSP is price fixed by Government of India to protect the producer - farmers - against excessive fall in price during bumper production years.

Answered by rishitkumarml10

Answer:

The minimum support price (MSP) is an agricultural product price set by the government of India to purchase directly from the farmer. 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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