why does the government announce minimum support price, remunerative and procurement prices for important crops ?
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The government announces the minimum support price because it could be incentive for the farmers.
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It is an initiative taken by the governemnt to Minimum Support Price, Remunerative and Procurement Prices on particular crops to avoid any sharp fall in agricultural prices.
COMMISSION for AGRICULTURAL COST and PRICES (CACP) reccomends certain crops on which the government puts this supports prices at the beggining of the sowing season.
These supportive prices help the farmers and producers from excessive price falls during bumper production years.
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