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For how many crops Minimum Support Price is announced by Cabinet Committee on Economic Affairs ?

For how many crops Minimum Support Price is announced by Cabinet Committee on Economic Affairs ? Correct Answer 22

The correct answer is 22.

Key Points

  • Minimum Support Price is price fixed by the Government of India, on the recommendation of commission for Agriculture Cost and Price.
  • To protect the producer - farmers - against excessive fall in price during bumper production years.
  • CACP (Commission for Agriculture Cost And Price) recommends MSP for twenty-two (22) crops and Fair & Remunerative Price (FRP) for sugarcane. 

 Additional Information

  • The MSP is fixed twice a year on the recommendations of the Commission for Agricultural Costs and Prices (CACP), which is a statutory body and submits separate reports recommending prices for Kharif and Rabi seasons.
  • The MSP is the rate at which the government purchases crops from farmers, and is based on a calculation of at least one-and-a-half times the cost of production incurred by the farmers.

Related Questions

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