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How is Minimum Support Price (MSP) helpful for farmers and for insuring food secuirity in India. Explain.?
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How is Minimum Support Price (MSP) helpful for farmers and for insurin...
This informs the farmers about the pries prior so they grow crops according to that ......mimimum support price soes nt ensure food security ....it is the issue price wch do this
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How is Minimum Support Price (MSP) helpful for farmers and for insurin...
Minimum Support Price (MSP) and its role in ensuring food security in India
The Minimum Support Price (MSP) is the price at which the government purchases crops from farmers. It is a part of the agricultural policy of the government of India and is aimed at protecting the farmers from market fluctuations.
Benefits of MSP for farmers
- MSP ensures that farmers get a fair price for their crops, irrespective of the market conditions.
- MSP provides a safety net to farmers and helps them in managing their financial risks.
- MSP helps in stabilizing the prices of agricultural products and reduces price volatility in the market.
- MSP acts as an incentive for farmers to produce more as they are assured of a minimum price for their crops.
Role of MSP in ensuring food security
- MSP plays a crucial role in ensuring food security in India by incentivizing farmers to produce more food grains.
- MSP helps in maintaining the buffer stock of essential food grains, which is used to meet the demand during times of shortage or emergency.
- MSP ensures that the market is supplied with sufficient food grains at a stable price, thereby preventing food inflation.
- MSP helps in maintaining the availability of food grains for the Public Distribution System (PDS), which provides subsidized food grains to the poor and the vulnerable sections of the society.
Challenges with MSP
- The MSP system is biased towards wheat and rice, which leads to a neglect of other crops.
- The MSP system does not benefit small and marginal farmers as they are not able to take advantage of it due to lack of access to information, credit, and markets.
- The MSP system often fails to reach the farmers in remote and backward areas, which leads to their exploitation by middlemen and traders.
- The MSP system has led to an over-reliance on a few crops, which has resulted in the neglect of crop diversification and sustainability.
Conclusion
The MSP system is a crucial component of India's agricultural policy and plays a significant role in ensuring food security. However, there is a need to address the challenges associated with MSP to make it more effective in benefitting small and marginal farmers and promoting crop diversification and sustainability.
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How is Minimum Support Price (MSP) helpful for farmers and for insuring food secuirity in India. Explain.?
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How is Minimum Support Price (MSP) helpful for farmers and for insuring food secuirity in India. Explain.? for Class 9 2024 is part of Class 9 preparation. The Question and answers have been prepared according to the Class 9 exam syllabus. Information about How is Minimum Support Price (MSP) helpful for farmers and for insuring food secuirity in India. Explain.? covers all topics & solutions for Class 9 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for How is Minimum Support Price (MSP) helpful for farmers and for insuring food secuirity in India. Explain.?.
How is Minimum Support Price (MSP) helpful for farmers and for insuring food secuirity in India. Explain.? for Class 9 2024 is part of Class 9 preparation. The Question and answers have been prepared according to the Class 9 exam syllabus. Information about How is Minimum Support Price (MSP) helpful for farmers and for insuring food secuirity in India. Explain.? covers all topics & solutions for Class 9 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for How is Minimum Support Price (MSP) helpful for farmers and for insuring food secuirity in India. Explain.?.
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