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At what price, the government purchases the food grain for making buffer stock?
- a)Minimum Support Price (MSP)
- b)Controlled price
- c)High price
- d)All of the above
Correct answer is option 'A'. Can you explain this answer?
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Verified Answer
At what price, the government purchases the food grain for making buff...
Correct answer is option 'A', "Minimum Support Price (MSP)". The Minimum Support Price (MSP) is the price at which the government purchases food grains from farmers for creating buffer stocks. MSP is a form of market intervention by the government to protect the interests of farmers and ensure fair prices for their produce. The government sets the MSP for various crops based on the recommendations of the Commission for Agricultural Costs and Prices (CACP) and is announced before the start of the sowing season. The MSP ensures that farmers are not exploited by private buyers, and also provide a support price for the farmers. This helps in ensuring food security and also helps farmers to get a fair price for their produce.
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Most Upvoted Answer
At what price, the government purchases the food grain for making buff...
The government purchases food grain for making buffer stock at the Minimum Support Price (MSP). This is done to ensure that farmers get a fair price for their crops and to maintain the stability of the market.
Explanation:
Minimum Support Price (MSP):
- The MSP is the price at which the government purchases food grain from farmers.
- This price is announced by the government before the sowing season to ensure that farmers get a fair price for their crops.
- The MSP is usually higher than the market price to incentivize farmers to grow more crops.
Buffer Stock:
- The government maintains a buffer stock of food grain to ensure food security in case of a shortage or a natural calamity.
- The buffer stock is maintained by purchasing food grain from farmers at the MSP and storing it in warehouses.
- The food grain from the buffer stock is released into the market in case of a shortage to stabilize prices and ensure availability of food.
Advantages of MSP:
- The MSP ensures that farmers get a fair price for their crops, which encourages them to grow more crops and invest in agriculture.
- It helps to maintain the stability of the market by ensuring a steady supply of food grain.
- It ensures food security by maintaining a buffer stock of food grain.
Conclusion:
In conclusion, the government purchases food grain for making buffer stock at the Minimum Support Price (MSP). This helps to ensure that farmers get a fair price for their crops, maintain market stability, and ensure food security.
Explanation:
Minimum Support Price (MSP):
- The MSP is the price at which the government purchases food grain from farmers.
- This price is announced by the government before the sowing season to ensure that farmers get a fair price for their crops.
- The MSP is usually higher than the market price to incentivize farmers to grow more crops.
Buffer Stock:
- The government maintains a buffer stock of food grain to ensure food security in case of a shortage or a natural calamity.
- The buffer stock is maintained by purchasing food grain from farmers at the MSP and storing it in warehouses.
- The food grain from the buffer stock is released into the market in case of a shortage to stabilize prices and ensure availability of food.
Advantages of MSP:
- The MSP ensures that farmers get a fair price for their crops, which encourages them to grow more crops and invest in agriculture.
- It helps to maintain the stability of the market by ensuring a steady supply of food grain.
- It ensures food security by maintaining a buffer stock of food grain.
Conclusion:
In conclusion, the government purchases food grain for making buffer stock at the Minimum Support Price (MSP). This helps to ensure that farmers get a fair price for their crops, maintain market stability, and ensure food security.
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Community Answer
At what price, the government purchases the food grain for making buff...
Food corporation of India purchase the grains from farmers in msp price ,(minimum support price)and store it into government granaries and sell to poor people in msp price than to market price
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