What is Minimum Support Price, or MSP

1. Downloaded from: justpaste.it/1zsxu What is Minimum Support Price, or MSP? After the Centre made a U-turn on agriculture laws, farmers hailed the government's decision to look into their demand to legalize Minimum Support Price or MSP. But what exactly is MSP? Let's understand Minimum Support Price or MSP was introduced first by the Center in 1966-67. This was after India faced a major deficit in cereal production at the time of Independence. The less production was not able to meet the population's high demand. Consequently, in the wake of battling for more than 10 years, the public authority of India at long last chose to go for broad agrarian changes. As an initial move towards this rural transformation, the Minimum Support Price or MSP was presented. The Minimum Support Price or MSP is a wellbeing net for the ranchers as it runs after shielding them from the vulnerabilities of the market and of the regular kind. The presentation of the Minimum Support Price or MSP was a progressive advance for the rural business of India, which changed the country from a food deficiency to a food overflow country. From that point forward, MSP has shown to be...read more