Which one of the following is announced by the government in support of a crop?

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Maximum support price

Moderate support price

Minimum support price

Influential support price

answer is C.

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Detailed Solution

Minimum Support Price (MSP) is a market mediation by the Government of India to protect rural makers against any sharp fall in costs. The MSP is the cost at which the government buys crops from the ranchers. The Government of India declares the base help costs toward the start of the planting season for specific yields based on the Commission at Agricultural Costs and Costs (CACP) proposals. The base help costs are an assurance cost for their produce from the government. The significant targets are to help the farmers from troublesome deals and to secure food grains for public appropriation. Suppose the market cost for the ware falls beneath the declared least value because of guard creation and excess on the lookout. In that case, government organisations buy the amount the ranchers presented at the minimum support price.

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