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Which department of the Government of India declares the minimum support prices?

Which department of the Government of India declares the minimum support prices? Correct Answer Department of Agriculture and Cooperation

The correct answer is Department of Agriculture and Cooperation.

Key Points

  • The Department of Agriculture and Co-operation, Government of India, declares Minimum Support Prices (MSP) for 23 crops before their sowing seasons, based on the recommendations of the Commission for Agricultural Costs and Prices.
  • It recommends MSPs of 23 commodities, are following:
    • 7 oilseeds including groundnut, rapeseed-mustard, soybean, sesamum, sunflower, safflower, and nigerseed.
    • 7 kinds of cereal including paddy, wheat, maize, sorghum, pearl millet, barley, and ragi.
    • 5 pulses including gram, tur, moong, urad, and lentil.
    • 4 commercial crops include copra, sugarcane, cotton, and raw jute.
  • Despite the COVID-19 pandemic, the Government of India's policies and decisions on farmers' welfare have resulted in minor improvements in food grain production and maintained agriculture growth.
  • The Cabinet Committee on Economic Affairs (CCEA), chaired by Hon'ble Prime Minister Narendra Modi, has approved an increase in the Minimum Support Prices (MSP) for all specified Rabi crops for the Rabi Marketing Season (RMS) 2022-23 on September 8, 2021, when the sowing season is in advance.​

Important Points

  • The Ministry of Agriculture & Farmers Welfare, formerly the Ministry of Agriculture, is a division of the Indian government that is responsible for the design and implementation of agricultural rules and regulations.
  • The Department of Investment and Public Asset Management (DIPAM) oversees all aspects of the Central Government's equity investments, including disinvestment in Central Public Sector Undertakings.
  • The Department of Economic Affairs is the Union Government's nodal department for formulating and monitoring the country's economic policies and programmes that affect domestic and international economic management.
  • The Ministry of Finance oversees the Department of Expenditure.  

Related Questions

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