When does the government declare Minimum Support Price for the farmers
Question
When does the government declare Minimum Support Price for the farmers
Solution
The Government of India declares Minimum Support Prices (MSPs) for 22 mandated crops before the sowing season. These crops include 14 crops of the Kharif season, 6 rabi crops, and two other commercial crops. The aim is to assure farmers about a guaranteed price and incentivize them for higher production of these crops. The announcement is typically made by the Commission for Agricultural Costs and Prices (CACP) which is a decentralized agency of the Government of India. The timing of the announcement varies but it is typically done before the sowing season to help farmers make informed decisions.
Similar Questions
.When does the government declare Minimum Support Price for the farmers?(a) After the sowing season (b) Before the harvest(c) Before the sowing season (d) After the harvest
12) The Government of India announces Minimum Support Price (MSP) for which of the following crops?
Price are government-imposed price floors or minimum prices on selected farm products.
Government intervention in agriculture usually involvesGroup of answer choicesPrice supports in order to keep farm incomes highPrice supports in order to keep agricultural imports lowPrice ceilings in order to subsidize U.S. exportsPrice ceilings in order to keep food prices
Why are price supports helpful for farmers?Multiple choice question.Price supports help keep market prices low so consumers can afford to buy more farm output.Price supports help keep the price received by farmers from being too low.Price supports prevent farmers from having surplus output.Price supports depress the prices that farmers pay for inputs.
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