Question

Write notes on:
(a) Minimum support price​

Answer 1

Explanation:

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.

Answer 2

Answer:

Minimum Support Price (MSP) - pre announced price by govt. to purchase food crops from the farmers

Explanation:

It is the pre-announced price at which the government purchases food grains from the farmers in order to create a buffer stock.

The Minimum Support Price is declared by the government every year before the growing season. This provides incentives to the farmers for raising the production of the crops.