minimum support price is announced by the government to provide (a) incentive to farmers for raising production (b) incentives to traders to earn maximum profit from farmer (c) incentives to money lender to lend maximum to the farmer (d) none of these
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MSP is price fixed by Government of India to protect the producer - farmers - against excessive fall in price during bumper production years. The minimum support prices are a guarantee price for their produce from the Government.
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