• UGI USER
  • Mar 20, 2024
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GUARANTEED MSP IS AN ETHICAL IMPERATIVE

Why in the news?

MSP Guarantee: Farmers demand legal assurance of Minimum Support Price for crops amid elections, highlighting agricultural concerns.

source:slideserve

Understanding Farmers’ Plight Amid Elections:

  • Agrarian concerns resurface as elections approach, with farmers converging at the capital’s border to voice distress and shape electoral discourse.
  • Ruling government offers to procure certain crops at MSP, contingent upon farmers’ crop diversification, but farmers reject it, citing unaddressed core issues.
What is Minimum Support Price (MSP)?

●  Minimum Support Price (MSP) is a guaranteed amount paid to farmers when the government procures their produce.

●  Determined by the Commission for Agricultural Costs and Prices (CACP) based on factors like production cost, demand-supply dynamics, and market trends.

●  MSP aims to ensure fair prices to farmers, encourage crop diversification, and enhance agricultural income.