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Q.

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


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a

Maximum Support Price

b

Minimum Support Price

c

Moderate Support Price

d

Influential Support Price 

answer is B.

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Detailed Solution

Minimum Support Price is announced by the government in support of a crop
MSP stands for Minimum Support Price, a concept started in 1966 through the Green Revolution. It is a scheme launched by the Government of India for the food grains produced. And FCI ( Food corporation of India) only purchases food grains from the farmers at this minimum. Farmers can sell to non-government buyers as well. The government also provides subsidies on fertilisers, power and water.
 
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Which one of the following is announced by the government in support of a crop?