Question

what is MSP? how it fixed?

Answer 1

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what is MSP?

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Minimum support price

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The minimum support price is an agricultural product price set by the government of India to purchase directly from the farmer.

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how it fixed?

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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.

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Answer 2

Answer:

MSP means minimum support price

Explanation:

As per the A2 method, MSP is set 50% higher than the amount farmer spend on farming including spending on seeds, fertilisers, pesticides, and labour.

C2 method on the other hand makes the calculation by including a wider range of inputs

The present MSP has been calculated based on the A2+FL method.