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The Minimum Support Price (MSP) is a minimum price for any crop at which the government purchases it from farmers, and is based on a calculation of at least one-and-a-half times the cost of production incurred by the farmers
MSP does not have any legal basis but has been implemented since the 1960s with the following objectives:
✅Ensuring food security in the country.
✅Protection from price drop for farmers
✅Incentivise desirable crop production.
Importance of MSP:
✅Safeguard against Price volatility
✅Surety of minimum prices
✅Control crops short in supply
✅Crop Diversification
✅Food security
Limitations of MSP:
✅Lack of legal guarantee
✅Issues with the cost of production
✅Lack of effective data
✅Ineffective coverage
✅Highly unequal across states
✅Ineffectively Implemented
#agriculture
Join @CSE_EXAM
MSP does not have any legal basis but has been implemented since the 1960s with the following objectives:
✅Ensuring food security in the country.
✅Protection from price drop for farmers
✅Incentivise desirable crop production.
Importance of MSP:
✅Safeguard against Price volatility
✅Surety of minimum prices
✅Control crops short in supply
✅Crop Diversification
✅Food security
Limitations of MSP:
✅Lack of legal guarantee
✅Issues with the cost of production
✅Lack of effective data
✅Ineffective coverage
✅Highly unequal across states
✅Ineffectively Implemented
#agriculture
Join @CSE_EXAM
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The Minimum Support Price (MSP) is a minimum price for any crop at which the government purchases it from farmers, and is based on a calculation of at least one-and-a-half times the cost of production incurred by the farmers
MSP does not have any legal basis but has been implemented since the 1960s with the following objectives:
✅Ensuring food security in the country.
✅Protection from price drop for farmers
✅Incentivise desirable crop production.
Importance of MSP:
✅Safeguard against Price volatility
✅Surety of minimum prices
✅Control crops short in supply
✅Crop Diversification
✅Food security
Limitations of MSP:
✅Lack of legal guarantee
✅Issues with the cost of production
✅Lack of effective data
✅Ineffective coverage
✅Highly unequal across states
✅Ineffectively Implemented
#agriculture
Join @CSE_EXAM
MSP does not have any legal basis but has been implemented since the 1960s with the following objectives:
✅Ensuring food security in the country.
✅Protection from price drop for farmers
✅Incentivise desirable crop production.
Importance of MSP:
✅Safeguard against Price volatility
✅Surety of minimum prices
✅Control crops short in supply
✅Crop Diversification
✅Food security
Limitations of MSP:
✅Lack of legal guarantee
✅Issues with the cost of production
✅Lack of effective data
✅Ineffective coverage
✅Highly unequal across states
✅Ineffectively Implemented
#agriculture
Join @CSE_EXAM
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