Question

what is minimum support price in 1 mark​

Answer 1

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Minimum Support Price is the price at which government purchases crops from the farmers, whatever may be the price for the crops. Minimum Support Price is an important part of India’s agricultural price policy.

 The MSP helps to incentivize the framers and thus ensures adequate food grains production in the country. I gives sufficient remuneration to the farmers, provides food grains supply to buffer stocks and supports the food security programme through PDS and other programmes. 

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Answer 2

it is a price fixed by the government at which the produce is procured by the public distribution system(like food corporation of India) and super Mills (in the case of cane)

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