Question

what is the importance of msp?

Answer 1

Hey, mate here is your answer✌✌》》

The idea behind MSP is to give guaranteed price and assured market to the farmers and protect them from the price fluctuations and market imperfections. Further, with the globalization resulting in freer trade in agricultural commodities, it is very important to protect the farmers and their interest.

Hope this answer will help you..《《

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@1Angel24

Answer 2

It provides security for long‐term investment decisions of the farmers. Another important objective of MSP is to incentivize the farmer to allocate resources in socially desired cropping patterns. MSP is expected to provide a sense of price security to the farmer and motivate them to diversity the crops

HOPE IT'S HELPFUL FOR U