Question

what is minimum support price (MSP)? why is MSP needed?​?​

Answer 1

Explanation:

Minimum Support Price (MSP) is a fixed price paid by the Government of India to farmers whenever they procure a particular crop. It is fixed prior to the sowing season to encourage higher investment and production of agricultural commodities. It is to be noted that MSP cannot be altered in any given situation

Answer 2

Answer:

Minimum Support Price (MSP) is a fixed price paid by the Government of India to farmers whenever they procure a particular crop. It is fixed prior to the sowing season to encourage higher investment and production of agricultural commodities. It is to be noted that MSP cannot be altered in any given situation.