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Minimum Support Price

Posted on : 21 Dec 2019

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  • Minimum Support Price (MSP) is a form of market intervention by the Government of India to insure agricultural producers against any sharp fall in farm prices.
  • The minimum support prices are announced by the Government of India at the beginning of the sowing season for certain crops on the basis of the recommendations of the Commission for Agricultural Costs and Prices (CACP).
  • The government announces minimum support prices (MSPs) for 22 mandated crops and fair and remunerative price (FRP) for sugarcane. They are:
    • Cereals- paddy, wheat, barley, jowar, bajra, maize, and ragi
    • Pulses- gram, arhar/tur, moong, urad, and lentil
    • Oilseeds- groundnut, rapeseed/mustard, toria, soybean, sunflower seed, sesamum, safflower seed, and nigerseed
    • Raw cotton
    • Raw jute
    • Copra
    • De-husked coconut
    • Sugarcane (Fair and remunerative price)

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Article Related Questions

  1. With reference to Minimum Support Price, consider the following statements
    1.It is announced by the Commission for Agricultural Costs and Prices (CACP).
    2.Coconuts, raw cotton, and sugarcane are covered under MSP.
    Which of the statements given above is/are correct?

  2. 1.1 only

    2.2 only

    3.Both 1 and 2

    4.Neither 1 nor 2

    Right Ans : Neither 1 nor 2

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