Question

How does the minimum support price act as an income security for the farmers

Answer 1

Answer:

There has been a great debate recently over minimum support price (MSP) for agricultural produce. Fresh talks have begun over the government’s move of hiking the MSP to 50% over production cost and whether it will benefit farmers. Let us look at whether the move makes sense given that it has always been one of the major demands in all of the farmer movements in the country.