Short note on Menimum support price in economic
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MSP is price fixed by Government of India to protect the 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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Minimum Support Price:
- It means to the cost at which the government secures food cereals (wheat and rice) through FCI from the cultivators in states where there is excess in production.
- The cultivators are paid a pre-declared cost for their crops. The MSP (minimum support price) is announced by the governance each and every year prior to the dissipate season.
- The buying grain forms the type of the buffer stock and is keeping in FCI granaries.
Learn more about Minimum Support Price:
What do you mean by minimum support price
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Why does the government announce minimum support price, remunerative and procurement prices for important crops ?
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