Question

What is buffer stock?who controls it?define m.s.pp.(minimum support price)( I guess).

Answer 1

Buffer stock is nothing but a reserve of grains that can be used to sell or give to people during harsh conditions,i.e, during floods, massive earthquakes, etc.... FCI (Food Corporation of India) controls it.

Minimum support price or MSP is the fixed rate by the Govt of India to protect farmers against excessive fall of price during bumper production. They actually announce it before the farmers starts farming or sowing the seeds. (don't forget it is the fixed price.... even if the farmers don't get nice harvest)