• UGI USER
  • Mar 01, 2024
  • 27 Likes
  • 1 Comments

SHOULD MINIMUM SUPPORT PRICE BE LEGALISED?

Why in the news?

Ongoing farmer protests demand legalizing Minimum Support Price (MSP) in India, reflecting concerns over agricultural crisis and fair income.

About the Protests and Justification for Legalization:

  • Farmers demand a legal guarantee for Minimum Support Price (MSP) due to the long-standing agricultural crisis and lack of governmental response.
  • MSP ensures national food security and aligns with India’s shift towards nutrition security.
  • Farmers also call for India’s withdrawal from the WTO, reflecting concerns over global trade pressure.
What is Minimum Support Price (MSP) ?

●   Minimum Support Price (MSP) is a government-guaranteed price for agricultural produce.

●   It serves as a market intervention to protect farmers from sharp price drops.

●   MSP covers 22 mandated crops and Fair and Remunerative Prices (FRP) for sugarcane.

●   Notable crops include cereals, pulses, oilseeds, cotton, jute, copra, and tobacco.

●   Procurement primarily focuses on wheat and paddy for public distribution.